June 18, 2018 / 8:44 AM / 6 months ago

BRIEF-Forever Entertainment Start Negotiations To Set Up New Company With Ultimate Games

June 18 (Reuters) - FOREVER ENTERTAINMENT SA:

* SAID ON SUNDAY IT STARTED NEGOTIATIONS WITH ULTIMATE GAMES S.A. ON ESTABLISHING A NEW COMPANY

* NEW COMPANY TO PORT GAMES FROM THE ULTIMATE GAMES’ PORTFOLIO FOR NINTENDO SWITCH, PLAYSTATION 4 AND XBOX ONE CONSOLES

* ULTIMATE GAMES ALSO ASSUMES PORTING GAMES FROM PLAYWAY SA AND THIRD PARTIES’ PORTFOLIOS

* THE MAIN TARGET PLATFORM IN THE NEW COMPANY WILL BE NINTENDO SWITCH

* BOTH PARTIES INTEND THAT THE FIRST GAME INTRODUCED FOR SALE ON THE NINTENDO SWITCH CONSOLE WAS “AGONY” GAME

* CO AND ULTIMATE GAMES EACH TO HOLD 50 PERCENT OF STAKE IN NEW COMPANY

* CO’S BOARD PLANS TO FINISH NEGOTIATIONS UNTIL JULY 30

Source texts for Eikon:,

Further companies coverage:,, (Gdynia Newsroom)

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