Sweden’s Embracer Soars After Unveiling Plan to Split Company
- Embracer shareholders to get stock in new firms as dividend
- Includes €900 million refinancing and new ownership structure
Lars Wingeford
Photographer: Mathias Johansson/Embracer
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Shares of Embracer Group AB gained as much as 18% as trading got underway in Stockholm after announcing plans to split itself into three publicly traded companies.
The Swedish game developer that owns rights to Tomb Raider and a suite of products related to The Lord of the Rings says it’s taking the step in order to unlock more value.