Games Publisher Ubisoft Announces Restructuring, Billion-euro Investment [Barron's]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
Company Research
Source: Barrons
The new unit, valued at around four billion euros ($4.3 billion), will be 25-percent controlled by Tencent, which will stump up 1.16 billion euros of new investment in exchange. Alongside "Assassin's Creed", the subsidiary will bring together "Far Cry" and "Tom Clancy's Rainbow Six" -- among the most popular long-running names in Ubisoft's roster of game universes. Ubisoft appears to be making the most of last week's successful launch of the latest "Assassin's Creed" instalment, "Shadows", on which much of its future was riding. Conditions for the Tencent deal include a bar on the French company losing its majority in the subsidiary for its first two years. Tencent cannot increase its stake for the next five years -- unless Ubisoft loses its majority in the mean time. Chief executive Yves Guillemot called the step a "new chapter in (Ubisoft's) history". Last year brought a string of woes for Ubisoft, with several disappointing releases for would-be blockbuster games and a
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