Gernandt & Danielsson advises Modern Times Group MTG AB (publ) in connection with a new issue of class B shares of approximately SEK 2,500 million with preferential rights for existing shareholders. The purpose of the rights issue is to repay the bridge loan facility used to finance the acquisition of Hutch Games Ltd. and to repay the vendor note incurred in connection with the acquisition of an additional 17 per cent of the shares in InnoGames GmbH.

The rights issue is subject to approval by an extraordinary general meeting to be held on 21 January 2021, and already has received strong support from the larger shareholders of MTG.

Gernandt & Danielssons team consists of Partner Fredrik Palm, Senior Associates Oscar Anderson and Daniel Sveen, and Associates Arijan Kan and Simon Göransson.