Embracer Group, owners of over 900 owned or controlled franchises including Tomb Raider and Lord of the Rings, has announced the divestment of Gearbox Entertainment has completed. All conditions for the transaction have now been fulfilled, and the transaction has been closed.

"As part of the transaction and settlement of certain earnout obligations 8,320,839 B shares of Embracer have been issued today at a subscription price of SEK 98.78 per share. Furthermore, and as settlement of additional earnout obligations, relating to Lost Boys Interactive, 2,083,267 B shares have been issued at a subscription price of SEK 79.30," says Embracer Group.

Embracer Group will now focus on its intention to transform into three standalone publicly listed entities at Nasdaq Stockholm. The deal will see the Tomb Raider IP controlled by newly formed Middle-earth Enterprises and Friends, the business arm responsible for AAA video-game development.

Embracer Group