Corporate filings and financial news reports

Embracer Splits into Three, Gains New Financing, Stock Up 18%

Apr 22, 2024, 07:42 AM

Embracer Group, the Swedish gaming conglomerate known for owning titles like 'Lord of the Rings' and 'Tomb Raider', announced plans to split into three separate publicly traded companies, with new financing in place. The restructuring will result in the formation of Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends, the latter of which will own Dark Horse and Plaion Pictures, owner of Anime Limited. This strategic move is aimed at enhancing focus on their respective areas: tabletop games, indie and AA games, and AAA titles. The decision comes as Embracer seeks to manage its finances better, with reports indicating the company is aiming to address its debt. Following the announcement, Embracer's stock price surged by up to 18%.