esports: Karmine Corp (FRA) acquires Astralis' (DEN) place in the EMEA LoL Championship (LEC)

Karmine Corp has acquired Danish team Astralis' place in the League of Legends (LEC) EMEA Championship and will join the competition from the 2024 season, announced the French outfit on 18/10/2023. The deal is worth a total of DKK194m (€26m), according to the Copenhagen-based organisation (DEN), which has been playing in the LEC since 2019 (under the name Origen until 2020).

As part of this agreement, Astralis' slot will be transferred "to a newly formed wholly owned subsidiary AK-Game SAS. Subsequently Karmine Corp SAS will aquire 66.67% of the shares in AK-Game SAS for DKK129m (€17.3m). The sale will be completed in tranches from 2023-2025 and Astralis will retain a capital interest in AK-Game SAS of 33.33%. The Agreement contains provisions for Astralis to trigger additional share transfers, up to ceding 100% of the shares to Kcorp by 2031," explained the Danish team, which is estimating a net profit before tax of DKK153m (€20.5m) from the sale in 2023.

Karmine Corp's headquarters and management will remain based in France, but the organisation will also have premises to…