MTG divests ESL Gaming to Savvy Gaming Group for USD 1,050 million to combine with FACEIT and create global leader in competitive gaming
Stockholm, Sweden, [24 January 2022 10:15 PM CET] Today, Modern Times Group MTG AB (”MTG”) announces the sale of ESL Gaming, the world’s largest independent esports company, to Savvy Gaming Group (“SGG”) in an all-cash transaction valuing ESL Gaming at an enterprise value of USD 1,050 million (equaling SEK 9,723 million[1]). MTG owns 91.46% of ESL Gaming, which corresponds to USD 960 million (equaling SEK 8,890 million[1]) of the total enterprise value and represents a total return on investment of 2.5 times. SGG is simultaneously acquiring FACEIT and will merge the two companies to create