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4-Traders Homepage  >  Equities  >  Nyse  >  JP Morgan Chase & Company    JPM

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JPMorgan owns 11.33 percent of Ubisoft via contracts, options

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09/13/2017 | 03:39pm CEST
A J.P. Morgan logo is seen in New York City

U.S. bank JPMorgan Chase & Co (>> JP Morgan Chase & Company) now indirectly owns 11.33 percent of Ubisoft (>> Ubisoft Entertainment)'s shares and 10.33 percent of voting rights, French markets authority AMF said on Wednesday.

U.S. bank JPMorgan Chase & Co (>> JP Morgan Chase & Company) now indirectly owns 11.33 percent of Ubisoft (>> Ubisoft Entertainment)'s shares and 10.33 percent of voting rights, French markets authority AMF said on Wednesday.

The move occurs a little more than a week before the French video games maker's general meeting and virtually makes JPMorgan its third-largest shareholder after media giant Vivendi (>> Vivendi) and Ubisoft's founding family the Guillemots.

Vivendi and the Guillemots have been at odds for two years, as the media group's repeated attempts to get board representation at Ubisoft were vehemently opposed by the Guillemots, with the backing of several institutional investors.

Vivendi currently holds about 25 percent of Ubisoft's shares, while the Guillemots have about 15 percent, according to Reuters data.

JPMorgan, which previously held less than 1 percent of the French video game maker's shares, has essentially increased its exposure to Ubisoft by acquiring buy and sell options on the stock, according to AMF.

It also signed a contract with an Ubisoft shareholder to borrow shares and six cash-settled equity swap contracts, the French regulator added.

"This statement is purely technical, with no incidence on the vote (at the general meeting)," a spokeswoman for Ubisoft said.

(Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Brian Love and Leigh Thomas)

Stocks treated in this article : Ubisoft Entertainment, Vivendi, JP Morgan Chase & Company
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Financials ($)
Sales 2017 102 B
EBIT 2017 41 310 M
Net income 2017 24 374 M
Debt 2017 -
Yield 2017 2,23%
P/E ratio 2017 13,96
P/E ratio 2018 12,51
Capi. / Sales 2017 3,28x
Capi. / Sales 2018 3,11x
Capitalization 334 B
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Number of Analysts 29
Average target price 94,3 $
Spread / Average Target -0,56%
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Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Marianne Lake Chief Financial Officer & Executive Vice President
Lori A. Beer Chief Information Officer
Lee R. Raymond Lead Independent Director
James Schine Crown Independent Director
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