Guillemot family ups stake in Gameloft to fend off 'takeover'

Reuters News
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Posted: Feb 15, 2016 12:10 PM

PARIS (Reuters) - The founding family of Gameloft has raised its stake in the company as it seeks to fend off a "creeping takeover" of the video games maker, according to a statement from France's AMF financial regulator on Monday.

The family's total stake rose to 18.99 percent, with 27.26 percent of the voting rights after Guillemot Brothers SE company increased its holding to 10.20 percent of the capital and 13.32 percent of the voting rights, AMF said in a statement.

The Guillemot Brothers SE company is fully controlled by the Guillemot family.

European media group Vivendi has been buying shares in Gameloft and peer Ubisoft, founded by the family, and held 28.20 percent of Gameloft's capital and 25.001 percent of voting rights as of Dec. 18, according to the AMF.

Vivendi said in October it was considering buying more shares in French video games makers Ubisoft and Gameloft, and did not rule out making a takeover bid for the companies in the next six months.

The Guillemot Brothers company does not plan to take control of the company but does not rule it out, according to the AMF statement, citing a letter from the Guillemot Brothers received on Friday.

The Guillemot Brothers "will take the necessary measures to avoid a creeping takeover by people who could challenge Gameloft's strategy and global vocation to the detriment of the company and its shareholders," according to the AMF statement.

(Reporting by Dominique Vidalon; Editing by Bate Felix and Adrian Croft)