(Reuters) -Ubisoft said on Friday it has completed Tencent's ( TCTZF ) investment in Vantage Studios, a new unit built around its Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six franchises.

The deal values Vantage at a pre-money enterprise value of 3.8 billion euros ($4.37 billion) and includes a 1.16 billion euro cash injection from Tencent ( TCTZF ) for a 26.32% economic interest.

Ubisoft retains exclusive control of the subsidiary.

Under the agreement, Tencent ( TCTZF ) must hold its Vantage stake for five years unless Ubisoft loses its majority interest. Ubisoft is required to keep control for at least two years. If Ubisoft's ownership changes in a board-approved deal, it can buy back Tencent's ( TCTZF ) shares at market price but if it declines, Tencent ( TCTZF ) can force a sale.

($1 = 0.8690 euros)