Shareholders of Thunderful Group approved the deal with Atari
A month ago, the Swedish holding company Thunderful Group reported that its affairs were not going well, with bankruptcy looming on the horizon. In an attempt to save itself, one of its measures was to sell a majority stake in the company — 81.7% — to Atari. However, to make the deal happen, it first needed the support of existing shareholders, which it now has.
The sale of shares was approved at an extraordinary shareholders' meeting on August 28.
Under the terms of the approved agreement, Atari will acquire 333.3 million shares of Thunderful Group at a price of 0.15 Swedish krona (1.6 cents) each. In total, the holding is expected to receive about 50 million Swedish krona ($5.28 million).
Currently, Thunderful Group consists of five studios: The Station, Coatsink, Early Morning Studio, To The Sky, and Stormteller Games. A year ago, there were more, but the holding closed or sold some teams as part of its restructuring. After the deal, Atari will gain partial control over them.