Brief: MTG AB Says Divests ESL Gaming To Savvy Gaming Group For USD 1,050 Million To Combine With FACEIT

Modern Times MTG AB

24/01/2022 21:24

Jan 24 (Reuters) - Modern Times Group MTG AB  MTGb.ST :
    * MTG DIVESTS ESL GAMING TO SAVVY GAMING GROUP FOR USD 1,050
MILLION TO COMBINE WITH FACEIT
    * INTENDS TO RETURN AT LEAST 40 PERCENT OF NET PROCEEDS TO
ITS
SHAREHOLDERS
    * NET PROCEEDS ARE EXPECTED TO BE APPROX USD 875 MILLION
(EQUALING
SEK 8,103 MILLION1) AND THE SALE OF THE SHARES WILL BE EXEMPT
FROM TAX
    * SGG IS SIMULTANEOUSLY ACQUIRING FACEIT & WILL MERGE TWO
COMPANIES TO CREATE LEADING GLOBAL PLATFORM FOR COMPETITIVE
GAMING - ESL FACEIT GROUP

Source text for Eikon:  ID: 
Further company coverage:  MTGb.ST 

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