[STEAM] European Commission says EA's controversial $55 billion buyout "would not raise competition concerns" and clears it for Saudi-led ownership

[Steam 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

A group of investors led by Saudi Arabia's Public Investment Fund have received approval from the European Commission to go ahead with their

This is the hidden content, please

• Sign In
• or
• Sign Up

, the blockbuster game publisher behind Battlefield, The Sims, and EA Sports titles.

Last year, EA confirmed it had entered a deal to go private and fall under the joint ownership of Saudi Arabia's Public Investment Fund (PIF), Silver Lake, and Affinity Partners (a private investment firm led by US President Donald Trump's son-in-law, Jared Kushner). Should the $55 billion buyout proceed without a hitch, Saudi Arabia's PIF will own 93.7% of shares, Silver Lake will have 5.5%, and Affinity Partners will hold onto 1.1% of the company.

That mega-deal is now one step closer to closing since the European Commission just concluded that the buyout wouldn't lead to significant competition concerns. (Good spot,

This is the hidden content, please

• Sign In
• or
• Sign Up

.)

"The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Electronic Arts Inc. of the US by the Public Investment Fund ('PIF') of Saudi Arabia. The transaction relates primarily to the production and distribution of video games for mobile devices, PCs and consoles, as well as the organization and commercialization of video game competitions, commonly referred to as electronic sports events," the European Commission's

This is the hidden content, please

• Sign In
• or
• Sign Up

explains.

"The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active," the note continues. "The notified transaction was examined under the normal merger review procedure."

The buyout has been subject to much scrutiny in the months since it was made public.

This is the hidden content, please

• Sign In
• or
• Sign Up

earlier this year, citing long-term concerns over the ethics and history of the publisher's would-be owners. Saudi Arabian authorities, for example, have frequently been

This is the hidden content, please

• Sign In
• or
• Sign Up

over the years.

For now, check out the

This is the hidden content, please

• Sign In
• or
• Sign Up

and beyond.

[/url]

This is the hidden content, please

• Sign In
• or
• Sign Up