MTG completes divestment of ESL Gaming and becomes a pure-play gaming group
STOCKHOLM — Modern Times Group MTG AB (publ) (“MTG”) today announced that it has successfully closed the transaction to divest ESL Gaming to Savvy Gaming Group. ESL Gaming is therefore no longer part of MTG and will be reported as ‘Discontinued operations’ in the group’s financial results for Q1 2022 and will be deconsolidated from Q2.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)