Swedish video games group Embracer will sell the Gearbox Studios to Take Two Interactive for ca $460 million. Together with the sale of Saber Interactive to its founder and a significant cost savings program, this hopefully will allow Embracer to reduce its debt burden so much that it’s no longer the main focus for the company, lenders and investors.
Debt is a useful tool, but when things get tough for a company it has a tendency to become the main focus in a way that equity doesn’t.
