Embracer shareholders approve Coffee Stain spin-off, advancing restructuring plan
Embracer Group shareholders on Monday approved the spin-off of its Coffee Stain video game unit, advancing the Swedish company's plan to split into three separate publicly listed entities.
The decision was made at an extraordinary general meeting, the company said in a statement.
Under the plan, investors will receive one share in Coffee Stain for each Embracer share they hold of the same class.
Coffee Stain, known for successful titles like "Goat Simulator" and "Valheim," is expected to be listed on the Nasdaq First North Premier Growth Market in Stockholm by the end of 2025, according to the company.
The board of directors was authorized to determine the record date for the share distribution.
This move is the second major separation in Embracer's restructuring, following the spin-off of its tabletop games division, Asmodee, earlier this year.
The remaining Embracer business is set to be renamed Fellowship Entertainment after the spin-off is complete.
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