EG7 intends to sell its subsidiary Innova at a price of EUR 32 million through a management buy-out - Relocates Toadman Interactive
INSIDE INFORMATION: STOCKHOLM, SWEDEN (APRIL 19, 2022) -- Enad Global 7 AB (publ) (“EG7” or the “Company”) has today entered into a letter of intent for the sale of the Company's subsidiary Innova Intellectual Properties S.à r.L. ("Innova") and to relocate Toadman Interactive studio from Russia. The sale of Innova is intended to be structured as a management buy-out (MBO) and the purchase price has been set at EUR 32 million. Structuring the Innova sale as an MBO is aimed to ensure the continuance of its ongoing business operations under the strong leadership of the existing management team