Tencent Holdings is considering a possible buyout of Ubisoft Entertainment with the Guillemot family, which founded the French video game publisher, Bloomberg reported Friday, sending Ubisoft’s stock soaring after falling to a decade-low.
The French video game firm’s stock fell to a decade-low after delaying the latest entry in its ... [+]
Ubisoft’s shares increased by more than 30% to just over €13.90 (about $15.25) as of around 11:10 a.m. Friday.
Tencent and Guillemot Brothers—a holding company run by members of Ubisoft’s founding family—have held discussions about acquiring Ubisoft, though those considerations are at an early stage, people familiar with the matter told Bloomberg.
Both companies are considering taking Ubisoft private if a transaction does go through, the people said.
Tencent—which purchased nearly 50% of Guillemot Brothers in 2022—holds 9.2% of Ubisoft’s net voting rights, or power in voting by shareholders, while the Guillemot family has about 20.5%, according to Ubisoft’s latest annual report.
Ubisoft did not immediately respond to a request for comment from Forbes.
This is a developing story.
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