Swedish e-sports and gaming firm MTG has agreed to sell ESL Gaming to Saudi-backed Savvy Gaming Group at an enterprise value of $1.05bn, it said on Monday.
MTG, which owns 91.46% of ESL Gaming, corresponding to $960 million, said it was expecting net proceeds of around $875 million from the deal, including transaction-related costs.
“Following the transaction, MTG will focus fully on accelerating growth in its pure-play gaming business,” MTG, which has a market cap of around 9.76 billion crowns ($1.05 billion), said in a statement.
Read more: Reuters
