In order to counteract the recent Vivendi's efforts to use its 61 percent stake in the Activision Blizzard, that it has been trying to sell for quite some time, Activision Blizzard has announced that it will purchase the stock from its parent company by paying over US $8 billion in total in a two deal transaction.

Activision Blizzard will buy back around 429 million shares as well as "tax attributes" for US $5.83 billion in a move to sever its connection to French-based Vivendi company. The ASAC II LP group led by CEO Bobby Kotick and Brian Kelly have secured US $100 million from personal funds that will get them addition 172 million shares for around US $2.34 billion. Both deals combined will worth around US $8.17 billion and feature 602 million shares, each costing US $13.60.

These two deals will ensure that the Activision Blizzard will become an independent company that will answer to its shareholders and Vivendi will managed to keep 83 million shares or around 12 percent while the ASAC II LP group will get 24.9 percent.

Vivendi was more than pleased with the deal as it has already started to look for buyers and Activision Blizzard was pretty much the only company that had enough cash to purchase the stake and run it efficiently, so the deal should benefit both sides.

Both deals should be finalized by September.

Source: VG247.com.