Modern Times Group MTG AB (“MTG”) announced on 24 January 2022 that the company has divested ESL Gaming in an all-cash transaction valuing ESL Gaming at an enterprise value of USD 1,050 million. MTG owns 91.46% of ESL Gaming, which corresponds to USD 960 million of the total enterprise value. The transaction is subject to customary regulatory approvals and is expected to close in Q2 2022.

Under MTG’s ownership, ESL Gaming has achieved significant scale and increased revenue to become the largest independent esports company globally.

Gernandt & Danielsson has advised MTG with a team consisting of partner Fredrik Palm, senior associates Oscar Anderson and Mikael Bolling and associates Jakob Forsell, Kajsa Sundklev and Emelie Ögren.