European Commission approves PIF's acquisition of Electronic Arts

PIF will own 93.4% of Electronic Arts once the deal closes. Saudi Arabia's Public Investment Fund (PIF) has received European Commission approval for its acquisition of Electronic Arts under the EU Merger Regulation. Regulatory clearanceThe approval follows earlier reports that the European Commission was also expected to clear the transaction under the European Union's Foreign Subsidies Regulation after completing its preliminary review. The $55 billion acquisition, announced in September last year, is being led by PIF alongside Affinity Partners and Silver Lake. The acquisition is the largest leveraged buyout to date and marks another step in PIF's plans to expand Saudi Arabia's presence in the global gaming industry.