Electronic Arts: sold to a Saudi fund for $55 billion; Kushner also involved in the deal

The company will be delisted from the Nasdaq

(Il Sole 24 Ore Radiocor) - A consortium led by the Saudi Arabian Public Investment Fund (PIF) has announced the completion of its $55 billion acquisition of the US video game manufacturer Electronic Arts (EA). The deal was also financed by the private equity firm Silver Lake and by Affinity Partners, led by President Donald Trump’s son-in-law, Jared Kushner. EA has stated that its shares have ceased trading and will be delisted from the Nasdaq. Shareholders will receive $210 in cash per share. The deal marks a further expansion by Saudi Arabia into the worlds of sport and video games. The PIF’s head of international investments, Turqi Alnowaiser, said in a statement that “entertainment and sport are key areas of strategic interest” for the fund.

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