Electronic Arts (ERTS) sold its 15% stake in Ubisoft Entertainment (UBSFF) in a deal worth about 94 million euros ($122 million), Bloomberg News reported Friday without naming its sources.
Swiss bank UBS placed about 14 million shares in Ubisoft at a price of 6.75 euros a share. Ubisoft is Europe's largest video-game producer, and the company behind games such as Splinter Cell and Assassin's Creed.
Electronic Arts was Ubisoft's largest shareholder. It bought a 19.9% stake in Ubisoft in 2005 for 68.9 million euros. Ubisoft considered the purchase hostile.
What is Short Selling?
Make a profit when stocks prices fall.View Course »