Saudi PIF set to win EU nod for Electronic Arts deal under subsidy rules, sources say
EA•Deal background and regulatory review
The deal represents a major push by PIF in its efforts to become a global hub for games and sports, betting on the enduring value of blockbuster game franchises as the industry recovers from a prolonged downturn.
It also underscores the kingdom's diversification from oil into infrastructure, tourism, sports and gaming and other sectors.
The FSR is aimed at preventing unfair non-EU subsidies to companies looking to acquire rivals in the 27-country bloc.
The deal is also expected to win unconditional EU clearance under merger rules when a preliminary review ends on July 22.
Two previous deals involving Middle East companies, Abu Dhabi state oil firm ADNOC's acquisition of German chemicals company Covestro and UAE telecoms group e&'s bid for parts of Czech telecoms company PPF, were only cleared after lengthy investigations and remedies.
EU approval expected for Electronic Arts deal
A group of investors including Saudi Arabia's Public Investment Fund is set to secure European Union approval for its $55 billion acquisition of video game developer Electronic Arts (EA.O) under EU subsidy rules, people familiar with the matter said.
Saudi Arabia's $1 trillion wealth fund, Jared Kushner's and private equity firm announced the deal, the largest leveraged buyout in history, in September last year.
