Baker McKenzie has advised Embracer Group in its strategic project to buy the Asmodée group in a deal valued at 2.75 billion euros. If this transaction is completed, Embracer would become the largest European gaming group.

Embracer is the parent company of businesses developing and publishing PC, console and mobile games. Based in Sweden, it has an extensive catalogue of more than 250 owned franchises and is divided into eight operating groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. It also owns 86 in-house games development studios and employs more than 9,000 people across 40 countries.

If the transaction is completed, it will mark a turning point in the Embracer group strategy. Asmodée group is indeed one of the main independent global players in the board game market, a vast and booming sector, which is highly resilient. It also has solid experience in the creation of long-term franchises and the production of original engaging content. This acquisition would make Asmodée Embracer’s ninth operating group and Embracer would become Europe’s largest gaming group.

Baker McKenzie Paris advised Embracer Group on this project. The team was led by Stéphane Davin, M&A partner and Antoine Caillard, M&A senior counsel with an M&A team including Guillaume Nataf and Savéria Laforce, partners, Tino Marz, Counsel (Munich), Paul Nury, senior associate, Samantha Chavane de Dalmassy and Philippe Frieden, associates. From the tax law practice, the team included Guillaume Le Camus, partner, Charles Baudoin, counsel and Robin Gaulier, senior associate. Samantha Mobley (partner, London), Léna Sersiron (partner, Paris) and Joost Haans (partner, Brussels) advised on competition law aspects. For Merger control and anti-trust, the team included Andreas Traugott and Nina Lenhard in Austria, and Christian Burholt and Katrin Kurz in Germany.

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