STOCKHOLM, 01-May-2017 — /EuropaWire/ — MTG has completed the sale of its 50% shareholding in FTV Prima Holding to Denemo Media for a total cash consideration of EUR 116 million (approximately SEK 1,110 million).
- Previously announced sale of Czech TV holding closed
- Reflects ongoing transformation from traditional national broadcaster into global digital entertainer
MTG has fully consolidated FTV Prima Holding since it acquired 50% of the business in 2005 for EUR 87 million (SEK 820 million) in cash. The total cash return on the investment, including dividends received and the sale price, amounts to approximately SEK 1.6 billion.
The sale will result in a net capital loss of preliminary some SEK 110 million. All items related to FTV Prima Holding will be reported as discontinued operations in MTG’s Q2 interim report.
MTG intends to use the proceeds from the sale to increase its ownership in online games developer InnoGames from 21% to 51%.
- Please see here for the original announcement “MTG sells Czech TV holding”.
- Please see here for the original announcement “MTG invests in InnoGames”.
MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
SOURCE: Modern Times Group MTG