World of Tanks publisher Lesta sold to one-employee firm after nationalization
What's the deal? Russian game studio LestaDealroom has a profile for this one. Try Dealroom →, publisher of World of Tanks and World of Ships, has been acquired by JSC Industrial StructuresDealroom has a profile for this one. Try Dealroom →. As of October 15, the buyer owns 100% of the group's three main legal entities: Lesta LLCDealroom has a profile for this one. Try Dealroom →, Lesta Games Agency LLCDealroom has a profile for this one. Try Dealroom →, and Lesta Games Moscow LLC.
Why now? The studio was nationalized in 2025, clearing the way for a state-directed sale. In early September, Russian deputy finance minister Alexei Moiseev said the asset would be sold to an interested investor at a "very high" valuation.
By the numbers: Lesta is one of the largest assets in the Russian gaming market. Its main operating company, Lesta Games Agency LLC, reported revenue of US$435.8M at the end of 2025, with net profit above US$150.3M.
About the buyer: JSC Industrial Structures was registered in Moscow in November 2024 and lists consulting as its main activity. According to SPARK, it has one employee, authorized capital of US$225.4, and a 2025 net loss of the same amount; its founders are hidden in the state register.
What's unclear? The deal value was not disclosed. RBC sources earlier put a potential price near US$751.4M, and Forbes reported former Formula 1 driver Nikita Mazepin among possible buyers. Final terms and beneficiaries remain undisclosed.
Just before the deal, Industrial Structures changed its CEO. On October 15, 25-year-old Zakhar Kislikh — tied to investment fund M9 CapitalDealroom has a profile for this one. Try Dealroom →, which is linked to Alexei Milevsky, the former head of mergers and acquisitions at VK GroupDealroom has a profile for this one. Try Dealroom → — took the role. Kislikh also founded JSC Gaming InvestmentsDealroom has a profile for this one. Try Dealroom → and JSC Society for Sustainable GrowthDealroom has a profile for this one. Try Dealroom →, the latter headed by Milevsky.
The signal: The sale caps a wave of Russian nationalizations — roughly $10 billion in assets over the past six months. Routing a top gaming studio to an opaque, one-employee shell underscores how little transparency surrounds who ultimately controls these state-seized businesses.
Read more: ua.news
Image credit: JGSDF
