Ubisoft is spinning off Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six into a subsidiary backed by Tencent, according to an announcement on Thursday. The Chinese gaming giant will invest €1.16 billion (~$1.3 billion) for a 25 percent stake in the carveout, which will have a total value of about €4 billion (~$4.3 billion).

Ubsioft will spin off its most successful game franchises, including Assassin’s Creed, Far Cry, and Rainbow Six Siege, into a separate subsidiary thanks to a $1.25 billion investment from Chinese conglomerate Tencent.

Ubisoft shares reversed gains in afternoon trade on Friday after rising as much as 12% earlier on plans to set up a subsidiary to house three of its popular video game franchises.

Assassin’s Creed,” “Far Cry” and “Rainbow Six Siege” will lead IP portfolio for new Ubisoft company amid market rush for multimedia licenses

Ubisoft's stock price has fallen by double digits, which has erased the value it gained in the days after the new Tencent deal was announced.

Stock climbed on plans to carve out a unit that will house key franchises including Assassin’s Creed with the backing of Chinese tech giant Tencent.

Assassin's Creed maker Ubisoft is creating a new unit with China's Tencent to handle its most popular franchises, including Assassin's Creed, Far Cry and Rainbow Six. The new unit will be worth more than $4 billion.

Ubisoft is creating a new subsidiary backed by Tencent for major franchises "Assassin's Creed," "Far Cry," and "Rainbow Six."

Ubisoft’s biggest games — Assassin’s Creed, Far Cry, and Rainbow Six — will be split off into a separate entity with a €1.16 billion ($1.3 billion) investment from Chinese tech giant Tencent, the company announced on Thursday.