EA's $55 billion Saudi-led takeover is complete, with Jared Kushner's firm among its new owners
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What just happened? Video game giant Electronic Arts is now officially owned by a consortium led by Saudi Arabia's sovereign Public Investment Fund (PIF). The group is also made up of investment firms Silver Lake and Affinity Partners, the latter founded by Donald Trump's son-in-law, Jared Kushner.
It was revealed back in September that EA had reached a $55 billion agreement to be acquired by the consortium. The company has now announced that the deal has successfully closed.
PIF already owned a 9.9% stake in EA, which it says allows a "deep understanding of EA's unique platform, massive global sports and gaming franchises, and iconic IP."
PIF now has a 93.4% stake in the company and holds minority stakes in Nintendo, Take-Two Interactive, and Activision Blizzard.
For its part, EA says the deal...
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