At the end of May, Embracer Group announced the sudden disruption of the $2 billion deal. After that, the company’s shares fell in price by half, and it was forced to begin restructuring. According to sources of the Axios publication, the failed partner was Savvy Games Group, a fund from Saudi Arabia.
Axios could not find out why Savvy Games Group refused the deal.
Embracer Group has already collaborated with Savvy Games Group. In June last year, she received $1 billion from the fund in exchange for 8.1% of ordinary shares and 5.4% of voting shares.