Latham & Watkins Advises FACEIT on Merger With ESL and Acquisition by Savvy Gaming Group
Latham & Watkins advised FACEIT, the leading digital destination for competitive gamers, on its merger with ESL Gaming, the world’s leading independent esports company. Under the name ESL FACEIT Group, the new company will deliver an end-to-end solution that supports game developers and publishers to build sustainable competitive gaming communities and esports ecosystems, offering players and fans the leading digital platform to play and connect.
The ESL FACEIT Group will come under the new ownership of Savvy Gaming Group (SGG), taking over from previous owners MTG. SGG is fully owned by PIF, Saudi Arabia’s sovereign wealth fund, and was set up in 2021 to help drive the long-term growth and development of the global gaming industry. The deal is subject to regulatory approval and is expected to close in Q2 2022.
The Latham team was led by London corporate partner Mike Turner, with associates Adam Czernikiewicz and Jacopo Eftekhar Zonouzi. Advice on tax matters was provided by London partner Karl Mah with associates Aoife McCabe and Abi Jacobs; on executive compensation, employment & benefits matters by London partner Sarah Gadd and associate Olivia Sadler; and on antitrust and competition matters by Brussels partner David Little, Washington, D.C. partner Ian Conner and counsel Patrick English.