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Activision Completes Buyback Of Shares From Vivendi

Video game publisher Activision Blizzard, Inc. (ATVI: Quote) Friday said it completed the purchase of about 429 million company shares and certain tax attributes from French media giant Vivendi SA (VIVEF.PK, VIV.L), for around $5.83 billion, or $13.60 per share in cash.

In a separate simultaneous deal, ASAC II LP, an investment vehicle led by Activision Blizzard CEO Bobby Kotick and Chairman Brian Kelly, also completed its purchase of about 172 million company shares from Vivendi for around $2.34 billion in cash, or $13.60 per share.

With the closing of the deal, ASAC II LP now owns about 24.7 percent of the company. Vivendi has retained 83 million shares, an approximate 12 percent stake.

Activision Blizzard funded the acquisition with the combination of $1.2 billion of cash on hand and recently issued debt.

by RTT Staff Writer

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