Brief: EG7 Exits Russia With Sale Of Innova, Relocation Of Toadman Interactive

Enad Global 7 AB (publ)

19/04/2022 11:57

April 19 (Reuters) - Enad Global 7 AB (publ)  EG7.ST :
    * EG7 INTENDS TO SELL ITS SUBSIDIARY INNOVA AT A PRICE OF
EUR 32
MILLION THROUGH A MANAGEMENT BUY-OUT - RELOCATES TOADMAN
INTERACTIVE
    * WILL BE RELOCATING TOADMAN INTERACTIVE AND ITS EMPLOYEES
WHO ARE
CURRENTLY BASED IN RUSSIA
    * TOADMAN INTERACTIVE STUDIO’S RUSSIAN ACTIVITIES TO BE
RELOCATED
TO WESTERN OR EASTERN EUROPE
    * STUDIO RELOCATION WILL LIKELY IMPACT SOME OF TOADMAN’S
CURRENT
PROJECT
    * WILL NO LONGER HAVE OPERATIONS IN RUSSIA FOLLOWING DEAL

Source text for Eikon:  ID:nWkr9Zh7cJ 
Further company coverage:  EG7.ST 

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