Allen & Overy has advised Krafton on its investment into the Warsaw Stock Exchange-listed Polish video game developer PCF Group. Greenberg Traurig advised PCF.
Krafton is a South Korean video game holding company.
According to Allen & Overy, “under the investment agreement, Krafton will subscribe for newly issued shares constituting 10% of the share capital of the PCF Group post-SPO.”
According to Greenberg Traurig, "Krafton will subscribe for approximately 60% of PCF Group’s planned SPO at a premium to the current market price of the shares."
“We announced our new strategy not only with a view to dynamizing the growth of People Can Fly but also to attract partners to implement it,” CEO of People Can Fly and largest PCF Group shareholder Sebastian Wojciechowski commented. “Conclusion of the investment agreement with Krafton, with whom we share our business ambitions and our shooter DNA, is excellent news for our studio and confirmation of the quality of the projects we are carrying out in the self-publishing model. It is also a signal that, as a group, we are heading in the right direction, and global industry players recognize it.”
Allen & Overy’s team included Partner Jaroslaw Iwanicki and Counsel Maciej Skoczynski.
Greenberg Traurig's team included Partner Rafal Sienski, Local Partner Maciej Pietrzak, Senior Associates Grzegorz Socha, Filip Drgas, and Michal Baldowski, and Junior Associate Kamil Nagawski.
