March 5, 2019 / 4:54 PM / 7 months ago

Vivendi sells its remaining shares in video games group Ubisoft

FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau

PARIS (Reuters) - Media conglomerate Vivendi has sold its remaining shares in video games company Ubisoft, making a capital gain of 220 million euros ($249 million).

Vivendi said on Tuesday that the remaining shares represented a 5.9 percent stake in Ubisoft. It sold the whole stake for 429 million euros.

“Vivendi is no longer a Ubisoft shareholder and maintains its commitment to refrain from purchasing Ubisoft shares for a period of five years,” Vivendi said in a statement.

“Vivendi, which already owns Gameloft, a global leader in mobile video games, confirms its intention to continue to strengthen its position in the video games sector,” it added.

Including this sale, Vivendi has sold 2 billion euro worth of Ubisoft shares and pocketed a capital gain of 1.2 billion euros.

Reporting by Sudip Kar-Gupta; Editing by Inti Landauro

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