A person familiar with the matter said today that Tencent has approached Ubisoft’s founding family, Guillemot, and expressed interest in increasing its stake in Ubisoft.
It’s unclear how much stake Tencent plans to own in Ubisoft, which is valued at $5.3 billion, but the goal is to become Ubisoft’s single largest shareholder by buying additional shares, two of the people said.
Tencent plans to buy a stake in Ubisoft from the Guillemot family, which holds a 15 percent stake in Ubisoft, three of the people said.
Tencent could offer up to 100 euros ($101.84) a share for additional Ubisoft shares, two of the people said. By comparison, Tencent bought a 5% stake in 2018 for 66 euros per share.
Stimulated by the news, Ubisoft’s shares rose more than 10% at one point.
In addition to buying shares from the Guillemot family, Tencent will also seek to acquire shares from Ubisoft’s public shareholders, making it Ubisoft’s largest single shareholder.