January 15, 2020 / 8:00 AM / 12 days ago

BRIEF-Digital Bros Signs Deal With Smilegate On Starbreeze

Jan 15 (Reuters) - Digital Bros:

* SAID ON TUESDAY IT HAD SIGNED DEAL WITH SOUTH KOREA’S SMILEGATE HOLDINGS ON STARBREEZE

* DEAL GIVES DIGITAL BROS CALL OPTION TO BUY STARBREEZE’S CONVERTIBLE BOND OF SEK 215 MLN AT PRICE OF EUR 17 MLN

* DEAL GIVES DIGITAL BROS CALL OPTION TO BUY CREDIT OF ABOUT EUR 13.8 MLN OWED TO SMILEGATE HOLDINGS BY STARBREEZE AT PRICE OF EUR 2 MLN

* IF DIGITAL BROS DOES NOT EXERCISE OPTION TO BUY BOND, IT WILL HAVE TO PAY PENALTY OF EUR 2 MLN

* HAS OPTION TO BUY ALL STARBREEZE ASSETS OWNED BY SMILEGATE - BOND, CREDIT AND STAKE - FOR EUR 19.2 MLN

* NOMINAL VALUE OF ALL STARBREEZE ASSETS OWNED BY SMILEGATE AMOUNTS TO EUR 35.8 MLN

* SMILEGATE OWNS 3,601,083 STAR A AND 6,018,948 STAR B STARBREEZE SHARES, EQUAL TO STAKE OF 2.92% AND 5.21% OF VOTING RIGHTS

* FOLLOWING DEAL AND POTENTIAL FULL BOND CONVERSION, DIGITAL BROS MAY OWN 25.72% OF STARBREEZE AND 19.80% OF ITS VOTING RIGHTS

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below