Digital rules out mandatory offer for Starbreeze as raises stake
15/01/2020 16:45
MILAN, Jan 15 (Reuters) - Digital Bros DIB.MI said on
Wednesday it has raised its stake in Starbreeze STZEb.ST to
28.6% of the Swedish videogames producer's voting rights but
ruled out going above the 30% threshold that would oblige it to
make a full bid.
The Italian company said it had bought a 5.76% stake in
Starbreeze, increasing its holding in the publisher of the
videogame Payday to 7% of its share capital and making it the
Swedish firm's largest shareholder by voting rights.
"Our intention is to continue our support as a partner, and
not to exceed the 30% mandatory bidding threshold. Due to our
recent agreement with Smilegate Holdings we will continuously
monitor and manage our holdings accordingly," Digital Bros said.
It said in a statement it had paid Swedish holding company
Varvtre, owned by the former CEO of Starbreeze, 1.36 SEK per
Smilegate share, a total of 25.8 million SEK ($2.7 million), and
included a potential earn-out.
Digital Bros said on Tuesday it had signed an agreement with
South Korean company Smilegate Holdings that would allow it to
increase its stake in Starbreeze.
($1 = 9.4515 Swedish crowns)
(Reporting by Claudia Cristoferi;
Editing by Alexander Smith)
((Claudia.Cristoferi@thomsonreuters.com; +39 3480848422;))