Embracer Group announced on its official website the conclusion of the sale of Gearbox Interactive to Take-Two Interactive Software for approximately 460 million dollars, according to the conditions established in recent months.
“On March 28, 2024, Embracer Group AB (“Embracer”) entered into an agreement to divest Gearbox Entertainment to Take-Two Interactive Software, Inc. All conditions to the transaction have now been satisfied and the transaction closed today.” It is reported in the official press release, which goes on to explain the changes brought about by the deal on the stock market.
Transaction details
“As part of the transaction and settlement of certain earnout obligations, 8,320,839 Embracer B shares were issued today at a subscription price of SEK 98.78 per share (9.23 euros at the current exchange rate Ed.). Furthermore, and by way of settlement of further earnout obligations relating to Lost Boys Interactive, 2,083,267 B shares were issued at a subscription price of SEK 79.30 (EUR 7.41 at current exchange rate Ed.).
The number of Embracer shares after the issuance of B shares amounts to 1,349,944,863, of which 54,000,000 are A shares entitled to ten votes each and 1,295,944,863 are B shares entitled to one vote each. The total number of votes after the shares are issued is 1,825,540,757. Following the issuance of the shares, the share capital increased to approximately SEK 1,874,923.93.”
In short, the restructuring of Embracer Group, after the deep crisis into which it fell due to the failure to reach an agreement with Bin Salman’s Arab fund, continues with the sale of one of his big gunsa, as well as one of the most recent and important acquisitions made by the group. Additionally, the Borderlands series is now officially Take-Two’s, after having run it as a publisher for years.
