December 21, 2017 / 8:42 PM / 6 months ago

BRIEF-Digital Bros Says Signed Sale Of 12.5 Pct of U.S. Subsidiary Pipeworks Inc

Dec 21 (Reuters) - Digital Bros SpA:

* ‍SALE OF 12.5% OF US SUBSIDIARY PROVIDES A CASH CONTRIBUTION OF 2.5 MILLION US DOLLARS​

* ‍GROUP HAS SIGNED SALE OF US SUBSIDIARY PIPEWORKS INC. TO AN INVESTOR GROUP LED BY NORTHERN PACIFIC GROUP, A US PRIVATE EQUITY FIRM​

* DIGITAL BROS - ‍TERMS PROVIDE FOR SALE OF 12.5% STAKE FOR AN INITIAL CASH CONTRIBUTION OF 2.5 MILLION US DOLLARS

* DIGITAL BROS - ‍TERMS FOR SALE PROVIDE AN OPTION EXPIRING JUNE 30, 2018 FOR REMAINING 87.5% FOR 17.5 MILLION US DOLLARS​

* DIGITAL BROS - ‍IF OPTION IS EXERCISED, AGREEMENT WILL HAVE EFFECT OF 12 MILLION EUR ON EXPECTED CONSOLIDATED NET PROFIT FOR FY CLOSING ON 30TH JUNE 2018​

* ‍AGREEMENT FOR DEVELOPMENT OF BLOODSTAINED HAS BEEN RENEGOTIATED​

* ‍RENEGOTIATION INCREASES TOTAL DEVELOPMENT INVESTMENT TO 5.8 MILLION US DOLLARS​

* ‍ RENEGOTIATION OF BLOODSTAINED SIGNIFICANTLY REDUCES ROYALTY PERCENTAGE PAYABLE BY GROUP AFTER LAUNCH OF VIDEOGAME​

* ‍BLOODSTAINED’S RELEASE HAS BEEN POSTPONED TO SPRING 2019​

* ‍BLOODSTAINED EXPECTED TO GENERATE LIFETIME REVENUES OF 30 EUR MILLION​

* EXPECT ‍SLIGHT DECREASE IN NET FINANCIAL POSITION ALONGSIDE WHOLE 2018 BUT WILL RETURN TO GROWTH AFTER LAUNCH OF NEW VIDEOGAMES​ Source text for Eikon: Further company coverage: ( Bangalore.newsroom@thomsonreuters.com )

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