What are the next steps in the process? Timing of those steps?

  • The Board of Directors proposes that two of these entities, Asmodee and “Coffee Stain & Friends”, will be distributed to the shareholders of Embracer Group and listed, starting with Asmodee within the next twelve months followed by “Coffee Stain & Friends” in calendar year 2025. “Middle-earth Enterprises & Friends” is intended to remain within the current listed company Embracer Group, which will be renamed.
  • A decision to ultimately pursue any spinoff is subject to shareholders’ approval of dividend distribution at a general meeting in Embracer Group and other customary conditions.



Embracer Group is a global group of creative and entrepreneurial businesses in PC/console, mobile and board games and other related media. The Group has an extensive catalog of over 900 owned or controlled franchises.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eleven operative groups: THQ Nordic, PLAION, Coffee Stain, Amplifier Game Invest, DECA Games, Gearbox Entertainment, Easybrain, Asmodee Group, Dark Horse Media, Freemode and Crystal Dynamics – Eidos. The Group has 111 internal game development studios and is engaging more than 12,000 employees in more than 40 countries.