Embracer Group is reportedly considering selling Gearbox Entertainment after receiving interest from third parties.
In a report from Bloomberg, we have learned about new details of the potential sale of the Borderlands studio is being explored in conjunction with Goldman Sachs and Aream & Co. The sources also stated that there’s also a chance that the sale might not go through as well.
To say that this has been a challenging year for Embracer Group would be an understatement. According to Reuter’s reporting, earlier this year, Embracer Group had to announce a plan to restructure to reduce its net debt to less than SEK 10 billion ($903 million) by the end of its financial year from SEK 16.7 billion at the end of June. Some might have seen the results of the restructure with the recent closure of the Saints Row reboot developer last month.
It seems like Gearbox might be next on the chopping block as Embracer is exploring the possibility of a sale. Reuters’ report states that Gearbox’s marketing materials are already available for potential buyers, which consist mainly of international gaming groups. Embracer and Goldman Sachs officials did not respond to Reuters’ inquiries regarding this possible deal. Still, two of Reuters’ sources have also cautioned that the sale deal might not happen at all.
Published: Sep 11, 2023 01:09 pm