Activision Blizzard has finally completed its buyback from parent company Vivendi, for a total of $8.2 billion, and has once again become an independent company, despite a stall in the process during the earlier days of October, where a share holder brought legal action against the publishing giant for not bringing the matter to him and his contemporaries.
Not all of these many billions will be shelled out in the next few days however, with Vivendi only set to receive $1.2 billion in cash in the near future, with some of that being made up of “recently issued debt.” Another $1.25 billion will be received in 2021, with a further 750 $million coming in 2024. These totals were used to purchase 429 million sharees for $5.83 billion, with Activision's CEO Bobby Kotick and co-chairman buying 172 million shares themselves in a separate transaction.
“With the completion of this transaction we open a new chapter in the history of Activision Blizzard,” Mr. Kotick said. “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.”