By Pietro Lombardi

Vivendi SA (VIV.FR) has sold its remaining stake in Ubisoft Entertainment SA (UBI.FR) for 429 million euros ($486.7 million).

The French company said Tuesday it has sold the 5.87% stake, realizing a capital gain of EUR220 million.

"Vivendi is no longer a Ubisoft shareholder and maintains its commitment to refrain from purchasing Ubisoft shares for a period of five years," it said.

Vivendi said it had sold its entire holdings in Ubisoft for EUR2 billion and a capital gain of EUR1.2 billion.

The French company "confirms its intention to continue to strengthen its position in the videogames sector."

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

March 05, 2019 12:05 ET (17:05 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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