Reported 4 days ago
Ubisoft Entertainment SA's shares jumped by up to 10% following the company's announcement of carving out a subsidiary containing popular game franchises like Assassin’s Creed and Far Cry, valued at around €4 billion. Tencent Holdings will invest €1.16 billion for a 25% stake in this new entity, demonstrating confidence in Ubisoft as it has faced challenges after a tough couple of years. The new subsidiary will manage game licenses and is expected to enhance Ubisoft's operating model while the proceeds will help reduce debt.
Source: YAHOO