The deal had been announced in July but was suspended in September after shareholders sued the company. Activision has purchased back 429 million shares for $5.83 billion.
In a separate transaction, an investment group led by Activision CEO Bobby Kotick and chairman Brian Kelly purchased 172 million shares for $2.34 billion.
With the purchase, the group now owns about 25 percent of the company. Vivendi will keep 83 million shares and a large 12 percent stake.
"With the completion of this transaction we open a new chapter in the history of Activision Blizzard," Kotick said in a statement. "We expect immediate shareholder benefits in the form of earnings-per-share accretion and strategic and operational independence. Our audiences and our incredibly talented employees around the world will benefit from a focused commitment to the creation of great games. Our shareholders and debt holders will have the benefit of an energized, invested, deeply committed management team focused on generating long-term, superior returns, and effectively managing our capital structure."
Written by: Andre Yoskowitz @ 13 Oct 2013 18:09
