Activision Blizzard has closed a deal to buy back shares from France-based conglomerate Vivendi a day after a Delaware Supreme Court judge lifted an injunction on the plan put on the deal by a lower court judge in response to several shareholder lawsuits.
With the deal complete Activision Blizzard now has a controlling interest in itself. Activision Blizzard now owns $5.83 billion of stock, with CEO Bobby Kotick and his partners owning $2.34 billion. Vivendi's stake has been reduced significantly to 12 percent.
"It reduces the uncertainty about our business and allows us to get back to focusing on making great games," Kotick said in an interview with Bloomberg.
In that same interview Kotick said that Activision Blizzard will start focusing on the burgeoning online games market in China. Interestingly enough, Tencent is one of the partners in Kotick's investment group and already has a huge presence in China. Tencent owns a 40 percent stake in Epic Games and owns League of Legends maker Riot Games.