Assassin's Creed-maker Ubisoft's shares surge 11% on deal to spin off top game franchises [CNBC]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: CNBC
Tencent will invest 1.16 billion euros ($1.25 billion) into the unit in a transaction valuing it at 4 billion euros. Ubisoft has been plagued by various issues latest, from financial struggles to delays to some of its key games. Artwork for Ubisoft's upcoming “Assassin's Creed Shadows” game. shares surged on Friday after the French video game publisher announced a deal to spin out some of its best-selling franchises. On Thursday, Ubisoft , with Chinese technology giant investing 1.16 billion euros ($1.25 billion) into the unit. The subsidiary will include Ubisoft's best-known games brands, including Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six, according to a press release. Ubisoft shares jumped 11% as of 10:50 a.m. Paris time. The game maker said Thursday that its newly formed unit would “focus on building game ecosystems designed to become truly evergreen and multi-platform.” The investment from Tencent values the new subsidiary at 4 billion euros, Ubisoft
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