The European Commission has until July 22 to decide on antitrust approval for the acquisition of EA by Saudi Arabia’s PIF and partners.
A consortium including Saudi Arabia’s Public Investment Fund has applied for EU antitrust clearance to acquire Electronic Arts in a $55 billion deal. The European Commission, acting as the bloc’s competition regulator, has set a July 22 deadline to either approve the transaction, demand remedies, or launch a deeper investigation if concerns arise.
The group, which also includes private equity firm Silver Lake and Jared Kushner’s Affinity Partners, announced the bid for the “Battlefield” and “Madden NFL” publisher last September. The PIF, managing $1 trillion in assets, views the deal as a strategic bet on the gaming industry’s growth and Saudi Arabia’s push to become a global hub for games and sports.
While the deal is expected to secure EU antitrust approval, it must also comply with the bloc’s foreign subsidy rules, which aim to prevent unfair state-backed acquisitions. The consortium has yet to file for clearance under those regulations.