Posted 9/11/2023, 11:39:31 AM
Embracer Group Considers Sale of Gearbox Entertainment to Reduce Debt
- Embracer considering sale of Gearbox Entertainment, maker of Borderlands, as it looks to cut debt
- Working with Goldman Sachs and Aream & Co to explore sale after receiving interest
- Gearbox purchased by Embracer in 2021 deal valued up to $1.4 billion
- Embracer announced restructuring in June to reduce debt, including studio closures and layoffs
- Sale not guaranteed but marketing materials available; buyers would likely be international gaming groups