TPG Growth, Satya Capital LLP and evolution media group Pty Ltd. signed a definitive agreement to acquire 75% stake in Trace Partners SAS from Modern Times Group Mtg AB (OM:MTG B) for a total cash consideration of €30 million.
January 18, 2018
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TPG Growth, Satya Capital LLP and Evolution media group Pty Ltd. signed a definitive agreement to acquire 75% stake in Trace Partners SAS from Modern Times Group Mtg AB (OM:MTG B) on January 19, 2018. Transaction values 100% of the business at an enterprise value of €40 million. Remaining 25% stake will be owned by Trace’s co-founder and management team. The transaction is subject to standard closing conditions, including regulatory clearance.
Lazard acted as financial advisor and Eduardo Fernandez, Grégory de Saxcé, Gil Kiener, Charles-Antoine Erignac and Perrine Saunier of Willkie Farr & Gallagher LLP acted as legal advisor to Trace Partners, Trace Partners’ co-founder, Olivier Laouchez, and the Trace Partners management team. Bernard Grinspan, Patrick Ledoux, Audrey Obadia-Zerbib, Audrey Paul, Claire Aristide, Jérôme Delaurière, Maïwenn Béas, Victoire Ségard and John Gaffney from Gibson, Dunn & Crutcher LLP and Arnaud Mourier and Damien Foisy d'Angicourt of TAJ acted as legal advisors for TPG Growth. Emmanuel Scialom and Paul Sautier of Dentons US LLP acted as a legal adviser to Modern Times Group Mtg AB. EY acted as accountant to Trace.
Modern Times Group MTG AB is a Sweden-based entertainment company. The Company operates in two segments: Esport and Gaming. The Esport segment is made up of ESL, Dreamhack and MTG VC-fundâs investments in esport related companies. Through ESL and Dreamhack,the Company operates national and international tournaments as well as grassroots amatuer cups, leagues and festivals. The Gaming segment is made up of InnoGames, Kongregate and MTG VC-fundâs investment in gaming-related companies. InnoGames is publisher of mobile and on-line games. InnoGamesâ complete portfolio encompasses seven live games and several mobile titles in production. InnoGames is focused on the free-to-play segment and provides players with a cross-platform experience on PC and mobile devices. Kongregate is mobile game publisher and developer. The Company operates worldwide.
TPG Growth, Satya Capital LLP and evolution media group Pty Ltd. signed a definitive agreement to acquire 75% stake in Trace Partners SAS from Modern Times Group Mtg AB (OM: MTG B) for a total cash consideration of €30 million.