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Embracer Group said Monday it will provide its video game unit Coffee Stain Group with 500 million Swedish Kronor in net cash as it prepares to spin off the business in a separate stock market listing.
Embracer Group reported a 79% plunge in second-quarter adjusted operating profit, as weak performance from new video game releases weighed on results amid a major corporate restructuring.
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.
Embracer Group has published an information brochure for the planned spin-off of its Coffee Stain video game unit, moving forward with a key part of its major restructuring plan.
Embracer Group will hold a virtual capital markets event for its Coffee Stain unit on Nov. 17, a key step ahead of the division's planned spin-off and separate stock market listing.
Embracer Group has called an extraordinary general meeting for shareholders to vote on the planned spin-off and separate listing of its Coffee Stain Group unit, a key step in the company's major restructuring plan.
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