29 March 2021

Gernandt & Danielsson advises MTG in connection with acquisition of Ninja Kiwi and directed issue of shares

Modern Times Group MTG AB (publ) announced on 24 March 2021 that it had entered into an agreement to acquire all shares in the New Zealand based games developer Ninja Kiwi Ltd for an upfront consideration consisting of cash and class B shares in MTG corresponding to SEK 1,217 million (on a cash and debt free basis) as well as earn-out payments of an expected amount corresponding to SEK 406 million. For the purpose of financing, inter alia, the cash component of the upfront consideration, MTG also carried out an issue of new class B shares of approximately SEK 1.1 billion directed to Swedish and international institutional investors.

Gernandt & Danielsson advises MTG with a team consisting of Partner Fredrik Palm, Senior Associates Oscar Anderson and Daniel Sveen as well as Associate Emelie Ögren.