Savvy Gaming Group agreed to acquire ESL Gaming GmbH from Modern Times Group Mtg AB (OM:MTG B) and others for an enterprise value of SEK 9.7 billion on January 24, 2022. In a related transaction, Savvy Gaming Group agreed to acquire FACEIT. Savvy Gaming Group will merge ESL Gaming and FACEIT to create the leading global platform for competitive gaming – ESL FACEIT Group.

The transaction is subject to regulatory approval, anti-trust and foreign investment screening. The transaction is expected to close in the second quarter of 2022. Modern Times Group intends to return at least 40 percent of the net proceeds to its shareholders, while the rest of the proceeds will be used to strengthen MTG's position in the global gaming market and continued execution of its buy and build strategy.

J.P. Morgan Securities plc and Ernst & Young Corporate Finance AB acted as financial advisors, Ernst & Young AB acted as accountant, Norton Rose Fulbright LLP and Gernandt & Danielsson Advokatbyrå KB acted as legal advisors to Modern Times Group Mtg AB. Morgan Stanley & Co. International plc acted as financial advisor to Board of Directors of Modern Times Group.

Aream & Co. served as financial advisor and Latham & Watkins (London) LLP served as legal advisor to FACEIT Ltd.