Embracer Group Sees 11% Boost in Stock Price Through Asset Sale
Thursday, 28 March 2024, 21:50
Success in Asset Sale
The sale of a business unit by Embracer Group resulted in an 11% surge in stock price as the company earned $247 million. By exiting Russia and opting for a leaner strategy, Embracer Group attracted investor attention.
Key Deal Details
- Price tag of nearly $250 million
- Buyer is Beacon Interactive
- Additional $94 million possible based on sale conditions
Optimism in Company's Outlook
Embracer CEO Lars Wingefors expressed positive sentiments on the sale, citing advantages for both Embracer and the divested Saber division.
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