French media conglomerate Vivendi said Thursday the $8.2-billion sale of its US games subsidiary Activision Blizzard would go ahead next week after a US court lifted an injunction against the transaction.<\/p>\n
In a brief statement, Vivendi said that the sale would take place on or around October 15 after the Supreme Court of the US state of Delaware lifted a preliminary injunction blocking the deal.<\/p>\n
Vivendi announced in July it planned to sell more than 85 percent of its 61.1-percent holding in Activision Blizzard, the maker of games “World of Warcraft”, “Call of Duty” and “Guitar Hero”.<\/p>\n
The sale of Activision Blizzard to the company’s managers, along with the planned sale of its holding in Maroc Telecom also announced in July but yet to be agreed, were part of Vivendi’s strategy to refocus its activities.<\/p>\n
The two sales should bring in more than $13 billion, with more than half expected to go towards reducing the company’s massive debt.<\/p>\n
Vivendi also owns Universal Music and French telecommunications operator SFR.<\/p>\n
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