Brief: Digital Bros Signs Deal With Smilegate On Starbreeze

Starbreeze AB

15/01/2020 07:57

Jan 15 (Reuters) - Digital Bros  DIB.MI :
    * 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:  urn:newsml:reuters.com:*:nBIA8MdkVz
    
 Further company coverage:  DIB.MI  
   


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