Ashurst advises MTG on the acquisition of a further stake in Turtle Entertainment
Frankfurt, 15 October 2018 --- Ashurst has advised the Sweden-headquartered international media group Modern Times Group (MTG) on the acquisition of a further stake in Turtle Entertainment. Turtle Entertainment is a world-leading eSports company based in Cologne, Germany.
The further acquisition of 8.44 per cent of the share capital increases MTG's ownership in Turtle to 82.48 per cent. MTG acquired the shares from the founders and management for a cash consideration of €14.3m. In 2015 MTG purchased a 74 per cent majority stake in Turtle Entertainment. Ashurst had already advised the acquirer on the initial transaction.
The Ashurst team was led by partner Matthias von Oppen, who was supported by senior associate Ian Maywald and counsel Philipp Cavaillès (all Corporate/M&A, all Frankfurt).