Embracer Group commented on the investment of the Saudi fund headed by Mohammed bin Salman – Nerd4.life

Lars Wingerfors, CEO of Embracer GroupAn official statement on behalf of the company he works for hung Invest 1 billion dollars from Saudi Public Investment FundControlled by the controversial Prince Mohammed bin Salman, the group’s actions.

Prince Mohammed bin Salman

It is an attempt to respond to Fears The news sparked. In fact, many fear that the fund could affect the management of current and future projects. However, according to the statement, Embracer will continue to operate completely independently, that is, Saudi funds will not affect the operations established by Wingerfors and various management groups, since the majority of votes on the board of directors remain in the hands of people working in the group.

The Saudi fund will receive only 5% of the vote, and 8% of the capital, and has decided to invest in Embracer because it supports its strategies and leadership. Wingerfors also made it clear that this is not the first time nor will it be the last that Middle Eastern companies have invested in the video game sector.

“I have been asked in recent days why we accept investments from an institution from a non-democratic country. To start, we have to look in the mirror, we are a public company and already have hundreds of institutions from all over the world as shareholders, including investors from the Middle East and Africa (MENA) and the region Asian”. Clarifying the big picture, Wingerfors added: “We’ve learned that SGG’s parent company, PIF, is one of the world’s largest investors, and has significant ownership in other big publishers as well. We sincerely believe that SGG has ambitions for everyone. Game Industry Insiders who genuinely enjoy supporting the global ecosystem and respect the culture of our industry.”

Will it really be like this? Only time will prove it.

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