MTG Ups ESL Stake

MTG has increased its interest in leading eSports company Turtle Entertainment to 82.48 percent for 14.3 million euros ($16.6 million) in cash.

MTG acquired the additional shares in the company, which operates leading tournaments such as ESL One and the Intel Extreme Masters, and online leagues such as ESL Pro League, from the founders and members of the management team. MTG first invested in Turtle in 2015. There is a put option for the minority owners to sell their remaining shares to MTG from July 2022.

MTG also announced that it is writing down its Zoomin.TV asset after taking full control of the company earlier this year. This will result in a SEK 169 million ($19 million) charge in its Q3 2018 financial results.