Ashurst advises MTG on the acquisition of world's largest esports company
Ashurst has advised the international media group MTG (Modern Times Group), headquartered in Sweden, on the acquisition of 74 % of the shares in Turtle Entertainment. Operating under the well-known ESL brand, Turtle Entertainment is the world's largest esports company.
The 74% stake was acquired from financial investors and the company's founders for EUR 78 million in cash. The founders and management will retain the remaining 26% and continue in their current positions. Closing of the transaction is subject to local regulatory approvals.