A minority shareholder in Ubisoft, led by Juraj Krúpa of AJ Investments, is organizing a protest outside the company's Paris headquarters. They accuse Ubisoft of mismanagement and a lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa criticizes Ubisoft's declining shareholder value, operational execution, and failure to adapt to market trends, demanding a clear recovery roadmap from the senior team.
In a statement, Krúpa highlighted Ubisoft's lack of disclosure about a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group, as well as a restricted article from MergerMarket that mentioned potential acquisition talks with Microsoft and EA. Ubisoft has not publicly acknowledged these discussions.
The situation is compounded by Ubisoft's recent struggles, including high-profile game flops, layoffs, studio closures, and multiple delays, such as the repeated postponement of Assassin’s Creed Shadows, initially set for July 18, 2024, then November 15, 2024, and finally March 20, 2025. These delays have led to significant stock declines, primarily affecting retail investors while benefiting corporate and institutional investors.
AJ Investments is calling on all frustrated shareholders to join the May protest, demanding better performance and transparency from Ubisoft. They are aware of Ubisoft's financial review of strategic options, advised by Goldman Sachs and JP Morgan, and expect results soon. If these results enhance shareholder value, AJ Investments may call off the demonstration. However, they are prepared to sue Ubisoft for misleading investors if necessary.
This is not the first time AJ Investments has expressed dissatisfaction with Ubisoft. In September, following the disappointing launch of Star Wars Outlaws, they urged Ubisoft to consider going private and changing its leadership, amid a significant slump in the company's share price.
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