Saudi PIF’s $55 Billion Acquisition of Electronic Arts Approved by EU
The European Union has approved Saudi Arabia's Public Investment Fund (PIF), along with a group of investors, to acquire video game developer Electronic Arts for $55 billion under the bloc's subsidy rules. The deal received all necessary regulatory approvals as of July 30 and is expected to close on August 4. While it cleared EU merger regulations last week, the review under the Foreign Subsidies Regulation (FSR) was considered a more significant challenge due to concerns about unfair non-EU subsidies affecting competition in Europe. The approval marks a strategic move by PIF as part of its broader efforts to position Saudi Arabia as a global hub for gaming and sports. The acquisition also reflects the country's ongoing economic diversification away from oil into sectors such as infrastructure, tourism, and entertainment.
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