Starbreeze has signed a binding agreement to divest the Indian game art production studio Dhruva
STOCKHOLM, SWEDEN (May 12, 2019) – Starbreeze has signed a binding agreement to divest its share of Indian subsidiary Dhruva. The total preliminary purchase price amounts to 7.9 MUSD and Starbreeze share of the company is 91.82%. The deal is expected to close before the half-year of 2019.
The preliminary purchase price of Dhruva is agreed to 7.9 MUSD and Starbreeze holds 91.82% of the shares in Dhruva. The consideration is subject to final accounts post closing. 15% of the purchase price will be held in escrow for 36 months, of which 50% will be released in 18 months.
The buyer wishes to be undisclosed at the time of this announcement but will be communicated as the transaction is finalized.
For more information, please contact:
Pia Rosin, Interim Head of Investor Relations
Ph: +46(0)8-209 208, email: email@example.com
This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:30 CET on May 12, 2019.
Starbreeze is an independent developer, creator, publisher and distributor of PC and console targeting the global market, with studios in Stockholm, Barcelona, Paris, Bangalore and Dehradun. Housing the smash hit IP PAYDAY, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). Starbreeze announced via a press release on December 3, 2018 that the company, including certain subsidiaries, entered into reconstruction. For more information, please visit starbreeze.com