MTG will now continue its growth journey as a fast-growing international mobile gaming group with a diversified portfolio of games across a wide range of popular genres. The divestment is expected to generate net proceeds of USD 875 million (SEK 8,174 million) for the group and at least 40% of the money will be returned to MTG’s shareholders through a combination of a share redemption and a share buyback program. The final structure of the two programs will be published in the notice to the AGM 2022. The rest of the proceeds will be used to strengthen MTG’s position in the global gaming market and to successfully continue to execute on the group’s M&A strategy.
MTG’s Group President and CEO Maria Redin commented:
“We’re excited for ESL Gaming to take the next step on their journey as the transaction closes, as well as for the opportunities that MTG sees going forward as gaming group. I would like to thank everyone involved in this transaction, and in particular ESL’s leadership team. Ralf Reichert and Craig Levine have been the best partners that we could have imagined on this journey. I wish them and everyone at ESL the best of luck and immense success going forward.”
“When we founded ESL over 20 years ago, our goal was to bring esports to fans all around the world and enable our players to become stars. Today esports enjoy worldwide recognition and together with MTG we have been in the driver seat of the industry’s development making ESL the global category leader. Now it is time to, together with FACEIT, deliver an end-to-end solution that supports game developers and publishers to build unprecedented sustainable competitive ecosystems and take esports to the next level"
For more information:
Lars Torstensson, EVP Communications & IR Direct: +46 (0) 70-273 48 79, email@example.com
Anton Gourman, VP Communications Direct: +46 73 661 8488, firstname.lastname@example.org
MTG (Modern Times Group MTG AB (publ.)) (www.mtg.com) is an international mobile gaming group that owns and operates gaming studios with popular global IPs across a wide range of casual and mid-core genres. The group is focused on accelerating portfolio company growth and supporting founders and entrepreneurs. MTG is an active driver of gaming industry consolidation and a strategic acquirer of gaming companies around the world. We are born in Sweden but have an international culture and global footprint. Our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).