Saudi Arabia’s takeover of EA gets approval from European Commission
The European Commission has approved Saudi Arabia’s Public Investment Fund taking sole control of Electronic Arts, clearing a major regulatory hurdle for the proposed $55 billion takeover. The decision matters because it brings one of the world’s largest video-game publishers closer to private ownership under a Saudi-led group, despite continuing public and political criticism of the deal.
The Commission said the transaction would not create competition concerns because of its limited effect on relevant markets, and reviewed it through its standard merger procedure. The purchase group also includes Silver Lake and Jared Kushner’s Affinity Partners; however, the PIF is expected to hold about 93.7% of EA, while the deal remains subject to any outstanding approvals and closing conditions.
- EU regulators approved Saudi PIF’s acquisition of EA.
- The $55 billion deal faces no EU competition objections.
- Saudi Arabia is expected to control most of EA.