MTG completes the sale of its stake in TRACE media group
- Previously announced sale of all of MTG’s 75% shareholding in TRACE media group closed
- Sale reflects MTG’s ongoing strategic transformation
MTG has completed the sale of its 75% shareholding in TRACE PARTNERS S.A.S. (TRACE) to TPG Growth for a total cash consideration of EUR 30 million (approximately SEK 313 million). The transaction values 100% of the business at an equity value of EUR 40 million (approximately SEK 417 million).
The sale will result in a preliminary net capital gain of approximately SEK 58 million, which will be reported within items affecting comparability (IAC) in MTG’s Q2 2018 financial results.
Please see here for the original announcement “MTG sells stake in TRACE media group”.
NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video content and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
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