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MTG is selling its 50 per cent stake in FTV Prima Holding to Denemo Media. The cash deal values FTV Prima Holding at €237.4 million. Closing is expected in Q1 2017.
MTG is considering using the proceeds from the sale to increase its ownership in InnoGames from 21 per cent to 51 per cent, based on an enterprise value of €260 million based on what MTG paid for its initial investment at the end of 2016. MTG would then fully consolidate InnoGames.
MTG acquired 50 per cent of FTV Prima Holding in 2005 for €87 million (SEK 820 million) in cash. The total cash return on the investment, including dividends received and the sale price, is expected to amount to approximately SEK 1.6 billion.
Denemo Media is a Czech joint venture between Denemo Invest and GES Media Asset.