Lars Wingefors, the boss of Embracer Group, has issued a lengthy statement discussing the recent £840m investment in the company by the Savvy Gaming Group, a subsidiary of Saudi Araba’s controversial Public Investment Fund.
“Since our announcement two days ago regarding the investment by Savvy Gaming Group (SGG) I have received many questions,” Wingefors’ lengthy statement begins.
Its investment in Embracer, first reported last week, amounts to 8.1 percent of the company’s overall shares, with 5.4 percent of voting rights.
The Savvy Gaming Group (SGG), meanwhile, is a gaming-focused arm of the Saudi investment fund set up by the hugely controversial Prince Mohammed bin Salman, in a bid to diversify and modernise the country’s foreign incomes.