Clearly GR has some power in these negotiations, but not all the...

Clearly GR has some power in these negotiations, but not all the power. They own the IP for Nexstellis and the royalty rights coming from this product but MYX has the knowledge (debatable) the people and distribution channels to market Nextstellis and other WH products. This is something GR wants not just for Nextstellis but for all the other WH products that they have and could have in future eg Donesta.

I would also add that for GR to go alone in the US (possibility) would be costly for them and also let's not forget that GR is 25% government owned, a Hungarian government whose president is a well known Putin sympathiser. The US political system would make direct entry into the US difficult for them.

Listening to the GR webinar, it was clear to me that they're looking for partnerships with Fuji and MYX to expand their global footprint. Their first ambition though is to become Europes no1 WH company by 2030.