DUBAI: Saudi Arabia's Public Investment Fund on Wednesday said it had launched a gaming and e-sports group, Savvy Gaming, days after Swedish firm MTG announced it was selling ESL Gaming to it.

MTG on Monday said it had agreed to sell ESL Gaming to Savvy Gaming Group for an enterprise value of $1.05 billion.

Savvy Gaming "aims to become the leading gaming and e-sports group domestically and internationally", the Saudi fund said.