Miguel Cordon · · 1 min readTencent bumps up stake in Assassin’s Creed publisher to 9.99%
Tencent has increased its stake in Ubisoft – the France-based gaming company behind titles such as Assassin’s Creed, Just Dance, and Tom Clancy’s Rainbow Six Siege – from 4.5% to 9.99%.
Image credit: Ubisoft
The Chinese gaming titan will pour 300 million euros (about US$297 million) to acquire 49.9% of the shares of Guillemot Brothers, a majority shareholder in Ubisoft, and gain 5% of voting rights. The total amount will be broken down to about US$198 million in share acquisition, with the rest to be paid in additional capital.
Guillemot Brothers will remain exclusively controlled by the Guillemot family, founders of Ubisoft. Tencent will not be represented on Guillemot Brothers’ board of directors as well.
Additionally, Tencent will be prohibited from selling its shares in Ubisoft within the next five years. It will also be barred from increasing its stake in the French gaming firm within the following eight years.
Tencent’s decision to bolster its shares in Ubisoft marks its latest move to capture more of the global gaming landscape. The Chinese firm, along with Sony, recently bought a 30% stake in FromSoftware, famed for its titles such as Dark Souls and Elden Ring, in a combined investment worth around US$260 million.
See also: Tencent’s financial health in 5 charts
Currency converted from euro to US dollar: US$1 = 1.01 euros.
Editing by Deepti Sri and Lorenzo Kyle Subido
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