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.
Founded in Sweden, Embracer is the enormous umbrella corporation which owns more than 100 studios including Borderlands developer Gearbox, publishing groups such as THQ Nordic, Koch Media and Saber Interactive, and franchises such as Tomb Raider and Deus Ex.
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.
