Vivendi: Activision Blizzard hedge transaction

Published on

Paris, June 11, 2015

Vivendi: Activision Blizzard hedge transaction

 

Vivendi, seeking to benefit from the growth in the US equity markets, today announced that it has hedged its remaining 41.5 million share stake in Activision Blizzard, representing 5.7% of the company’s total common shares. This hedge was accomplished through the entry into an approximate 18-month zero premium collar transaction, on June 10, 2015 after close of trading. In connection with this transaction, Barclays Bank Plc as counterparty to the transaction effected a block sale of approximately 36 million Activision Blizzard shares borrowed in the market. 

Following the entry into this transaction, Vivendi continues to own 41.5 million shares in Activision Blizzard. 

The objective of the transaction is to protect the value of Vivendi’s shareholding in Activision Blizzard, while allowing Vivendi to retain significant participation in further appreciation of the Activision Blizzard share price during the term of the collar.

 

About Vivendi

Vivendi is an integrated media and content group. The company operates businesses throughout the media value chain, from talent discovery to the creation, production and distribution of content. The main subsidiaries of Vivendi comprise Canal+ Group and Universal Music Group. Canal+ is the leading pay-TV operator in France, and also serves markets in Africa, Poland and Vietnam. Canal+ operations include Studiocanal, a leading European player in production, sales and distribution of film and TV series. Universal Music Group is the world leader in recorded music, music publishing and merchandising, with more than 50 labels covering all genres. A separate division, Vivendi Village, brings together Vivendi Ticketing (ticketing in the UK and France), Wengo (experts counseling), Watchever (subscription video-on-demand) and the Paris-based concert venue L’Olympia. www.vivendi.com, www.cultureswithvivendi.com, www.themediashaker.com

 

 

Important Disclaimers

Cautionary Note Regarding Forward Looking Statements. This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy, plans and outlook of Vivendi, including the impact of certain transactions and the payment of dividends and distributions as well as share repurchases. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator), which are also available in English on Vivendi’s website (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. Accordingly, we caution you against relying on forward looking statements. These forward-looking statements are made as of the date of this press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility.


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