Common Contracts
1 similar null contracts
Thunderful Group AB (publ) (“Thunderful Group” or the “Company”) has today entered into a share purchase agreement to divest the remaining distribution businesses AMO Toys AB, Bergsala Aktiebolag, Thunderful 1 AB as well as the distribution services...May 21st, 2024
As a result of the weaker-than-anticipated performance across Thunderful Group from 2022 and onwards, the net debt and leverage have increased materially. The distribution segment has been negatively affected by the macro-economic downturns, supply chain issues, inventory build-up, and losses generated by Nordic Game Supply. The performance in the games segment has mainly been impacted by a post-covid stagnation since 2021, lack of steering, a diverse strategy with lack of synergies between the Company’s segments, and over-investments made in the last few years that have proven challenging to sustain given the current industry climate. In order to decrease the debt burden and to obtain necessary liquidity to continue to execute its long-term strategy within the games segment, Thunderful Group has decided to divest the remaining part of the distribution operations. The view of the Board of Directors is that the Transaction is in the best interest of the shareholders and employees, and t
