October 13, 2016 / 5:41 AM / 9 months ago

BRIEF-MTG invests in Innogames, enters online gaming market

1 Min Read

Oct 13 (Reuters) - Modern Times Group Mtg Ab

* Says invests in innogames and enters multi-billion dollar online gaming market

* Says has entered into an agreement to acquire 35 pct of Innogames

* Says has an option to acquire a further 16 pct of company at same valuation

* Says Innogames has expected revenues of approximately EUR 125 mln in 2016 and an EBITDA margin of approximately 20 pct.

* Says the acquisition will be EPS accretive in year one

* Says transaction is based on an enterprise value of eur 260 mln euros for 100 pct of company

* The transaction is subject to German and Austrian merger approvals. Further company coverage: (Reporting By Simon Johnson)

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