After his latest radical decision in connection with Tencent to keep the company on the water, Ubisoft faces a opposition that demands the accounts of the French giant.
Last week, Ubisoft announced that it had concluded an agreement with Tencent, which had expected several months due to the dangerous financial situation of the group. This has brought his debts to the grant of 25% of 25% of the shares of a new company that assassins Creed, Far Cry and Rainbow Six, which are regarded as the Juicy of the French giants, has been regarded. However, this decision seems to have been made unilaterally by the leaders of the company, and one of its shareholders now relies on the French judiciary to settle the dispute.
Internal mutiny at Ubisoft according to his agreement with Tencent
The soap opera for the financial situation of Ubisoft is garnished with a new episode. As a memory, the French giant has been in a delicate posture for some time. Management problems, internal harassment scandals, hell of development such as Beyond Good & Evil 2 or a skull in a sad state, financial failures such as Star Wars Outlaws, countless project stations of projects, the list of setbacks is long. Despite his successful start, Assassins Creed Shadows, despite the many controversy before his publication, was not enough to smooth the ship.
Ubisoft therefore had to approach Tencent to take the head out of the water and breathe a little better with a welcome injection of funds that aim to mix your colossal debts. But this agreement, which was negotiated by the Guillemot Brothers, is obviously not for the taste of everyone. AJ investmentA minority shareholder of the group who repeatedly showed his dissatisfaction with the administration of Ubisoft until they call the employees to prove, In particular, has divided an open letter to express his opposition to this alliance.
Inquiries from AJ Investments against the group
” In response to the decision of Ubisoft to transfer the rights to intellectual property of three large franchise companies to a new company, AJ Investments and a shareholder coalition in France start legal procedures. We ask the court to encourage the group to organize an extraordinary general meeting in order to give all shareholders the right to coordinate two capital resolutions :
- New negotiation The agreement with Tencent: We have to restructure This transaction in the form of a direct sale of goods in Tencent for at least 4 billion dollars, which represents the value accepted by the two groups.
- If you distribute an extraordinary dividend: After the sale, Ubisoft must return 23 dollars per share to the shareholders (a total of 3 billion dollars) and receive 1 billion dollars to cover the remaining business debt.
We also want TECE to be excluded from the vote and that the rights of the Guillemot Silk BrothersNt limited to their actions that are not associated with Tencent ».
It is currently not known whether the French judiciary accepts the application for AJ investments or not. It should also be noted that Ubisoft has dropped by more than 20%after announcing this agreement with Tencent. The soap opera around the French giant's setbacks thickens. The future will tell us what happens to the group and its many licenses.
Source: Insider games
