BRUSSELS - A consortium led by Saudi Arabia’s Public Investment Fund has formally requested European Union antitrust approval for its $55 billion acquisition of Electronic Arts. The European Commission set a July 22 deadline to either clear the transaction or launch a full-scale investigation.
The investment group, which includes Jared Kushner’s Affinity Partners and private equity firm Silver Lake, announced the bid for the maker of "Madden NFL" and "Battlefield" last September. This move underscores Riyadh's strategic push to establish the kingdom as a global hub for gaming and sports entertainment.
While antitrust clearance appears likely, the deal faces additional regulatory hurdles. The consortium must still seek approval under new EU rules designed to prevent unfair foreign subsidies from distorting market competition. That separate filing remains pending as the July deadline approaches.