May 21, 2014 / 8:46 PM / in 4 years

Vivendi to sell 41.5 million Activision shares

(Reuters) - Activision Blizzard Inc (ATVI.O) said Vivendi S.A. (VIV.PA) will sell 41.5 million of the videogames publisher’s shares, as part of a planned stake sale announced last July.

The offering is expected to close and settle on May 28 and Activision will not receive any of the proceeds, the company said on Wednesday.

    Vivendi owned an 11.6 percent stake, or 83 million shares, in Activision as of October, according to Thomson Reuters data.

    France-based Vivendi agreed to sell most of its stake in Activision, the world’s largest videogames publisher, for $8.2 billion as part of the conglomerate’s move to split its media and telecoms assets.

    Barclays and Credit Suisse are acting as bookrunning managers and underwriters for the offering.

    Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila

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