EU gives antritrust approval to the Saudi-led $55 billion takeover of EA

The European Commission has approved the Saudi-led $55 billion takeover of Electronic Arts on antitrust grounds, finding it is unlikely to harm competition in gaming and esports markets. The decision is an important advance for what could become the largest leveraged buyout in history, although the transaction still needs further regulatory clearance.

The EU is separately assessing whether the deal complies with foreign-subsidy rules, with a decision due by 30 July, while US authorities including the Committee on Foreign Investment must also approve it. Saudi Arabia’s Public Investment Fund would own more than 93 per cent of EA, alongside Silver Lake and Affinity Partners; EA shareholders approved the deal in December, and more than $20 billion of debt would finance it.