Vivendi Seeks Buyers for Activision
Vivendi SA VIV.FR -1.23% is working with two investment banks to explore the sale of videogame giant Activision Blizzard Inc., ATVI -0.25% in which the French conglomerate owns a majority stake, people familiar with the matter said.
Goldman Sachs Group Inc. and Barclays BARC.LN +0.82% PLC are helping Paris-based Vivendi assess its options around Activision Blizzard, which has a market capitalization of about $13.4 billion. Vivendi owns a 61% stake through a 2008 merger of its gaming unit, Blizzard Entertainment, with Activision.
Attendees visiting the Activision Blizzard display at the E3 Expo in Los Angeles last month.
Vivendi is focused on finding a buyer for the Santa Monica, Calif.-based maker of popular games such as “Call of Duty” and “World of Warcraft,” and bankers have reached out to a range of suitors, including other gaming companies and private-equity firms, the people said. Read More