Ubisoft Continues Buyout Talks, Tencent Reportedly Wants More Say Over Future Board Decisions
Ubisoft has been in rough shape for a while, and with multiple major titles failing to perform to expectations once after another, from Skull and Bones and XDefiant to Prince of Persia: The Lost Crown, Star Wars Outlaws, and more, the company’s health has only worsened with time. In October, reports suggested the company was in talks with Tencent – a minority stakeholder in Ubisoft – to be taken private, and more details have now emerged on that front.
A report published by Reuters claims the Guillemot family – Ubisoft’s founders and controlling shareholders – he continued discussions with Tencent and other investors regarding a potential management-led buyout of Ubisoft.
As per the report, the Guillemot family is attempting to find a solution that would allow it to retain control over the company. Tencent, meanwhile, reportedly wants greater say over future board decisions, and though it’s cognizant of a potential hostile takeover by other investors, it’s currently satisfied with its 10 percent holding in Ubisoft, and is willing to wait for the Guillemot family to agree to a deal.
A Ubisoft spokesperson said, “We remain committed to making decisions in the best interests of all of our stakeholders. In this context, as we have already indicated, the Company is also reviewing all its strategic options.”
Earlier this year, Ubisoft was earned by minority stakeholder hedge fund AJ Investments to take the company private amidst persistent declines in share prices. Read more on that through here.
Read more on gamingbolt.com
