Ubisoft Jumps After Tencent Completes €1.16 Billion Investment

Ubisoft Entertainment SA’s shares jumped by the most in nearly a year after the company closed a deal with Tencent Holdings Ltd. for an investment in Vantage Studios, a unit carved out for its Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six franchises.

The €1.16 billion ($1.3 billion) cash investment, which will be used to reduce the French video game publisher’s debt, followed an agreement reached in March, Ubisoft said in a statement on Friday after markets closed.