The talks surrounding a potential buyout at Ubisoft continue to pick up steam. After reports first surfaced in October of a buyout to take Ubisoft private, the Guillemot family have continued to have discussions with potential partners.
In a new report by Reuters, Ubisoft’s owners have continued discussions with Tencent and other investors regarding a buyout of one of the world’s largest game studios. According to the report, the Guillemot family has made it known to potential buyers that it wants to retain control of the company.
It was added that Tencent hasn’t decided whether to increase its in the company or not. However, part of talks with the Chinese company involve preventing “any potential hostile takeover of Ubisoft by other investor.”
Tencent is the second-largest stockholder in Ubisoft, owning 10% of the company. A reason for a delay in a decision stems from the company wanting a “greater say on future board decisions including cash flow distribution”. The report claims that the Guillemot family hasn’t agreed to that provision.
In response to the report, an Ubisoft spokesperson told Reuters, “We remain committed to making decisions in the best interests of all of our stakeholders. In this context, as we have already indicated, the Company is also reviewing all its strategic options.”
Tencent declined to comment on the report.
When the latest update first broke, stock trading for the company was temporarily suspended. However, upon resuming, share prices have jumped 13% as of publishing.
Recently, Ubisoft announced the shutdown of its free-to-play Call of Duty competitor XDefiant. GPlayr was the first to report on the game’s shutdown.
What do you think of the continued buyout talks between Ubisoft and Tencent? Let us know down below, and join more discussions in the official GPlayr forums.
For more GPlayr, read about the new Teenage Mutant Ninja Turtles game coming from the developers of I Am Your Beast. And don’t forget to sign up for our newsletter.