MTG completes sale of Bet24
Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has completed the sale of its Bet24 operations to Unibet Group plc.
MTG has received 80% of the total consideration EUR 13.5 million in cash, with the remaining 20% to be paid by 30 June, 2012, subject to the fulfilment of certain contractual conditions.
Bet24 reported gross sales of EUR 49 million for the full year 2011, with gross winnings of approximately EUR 10.5 million and an operating profit of EUR 0.2 million.
For further information, please visit www.mtg.se or contact:
Hans-Holger Albrecht, Chief Executive Officer
Tel: +46 (0) 8 562 000 50
Modern Times Group (MTG) is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses. MTG’s Viasat Broadcasting operates free-TV and pay-TV channels, which are available on Viasat’s own satellite platforms and third party networks, and also distributes TV content over the internet. MTG is also the largest shareholder in CTC Media, which is Russia’s leading independent television broadcaster.
Modern Times Group is a growth company and generated record net sales of SEK 13.5 billion in 2011. MTG’s Class A and B shares are listed on Nasdaq OMX Stockholm’s Large Cap index under the symbols ‘MTGA’ and ‘MTGB’.
The information in this announcement is that which Modern Times Group MTG AB is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 13:30 CET on 3 May 2012.