Saudi PIF-Led $55 Billion EA Deal Set to Secure EU Approval
BRUSSELS — A consortium including Saudi Arabia’s Public Investment Fund is reportedly set to secure European Union approval for its $55 billion acquisition of video game developer Electronic Arts, clearing a major regulatory hurdle for one of the gaming industry’s largest-ever transactions.
The European Commission is expected to approve the deal following the conclusion of its preliminary review under the bloc’s Foreign Subsidies Regulation on July 30, according to Reuters, citing people familiar with the matter. The regulation allows Brussels to examine whether financial support from non-EU governments could distort competition within the European market.
The investor consortium comprises Saudi Arabia’s Public Investment Fund (PIF), Silver Lake and Affinity Partners.
The three investors agreed in September 2025 to acquire Electronic Arts in an all-cash transaction valued at $55 billion, with EA shareholders set to receive $210 per share. Electronic Arts described the agreement as the largest all-cash sponsor take-private investment in history.
The European Commission has also been reviewing the transaction under its conventional merger-control rules. Reuters reported that unconditional antitrust approval was expected separately, alongside the Foreign Subsidies Regulation process.
Earlier in the review, the Commission invited third parties to submit observations on the proposed transaction.
The European Commission declined to comment on the expected FSR decision, while PIF and Electronic Arts did not immediately respond to requests for comment.
The regulatory progress brings the consortium closer to completing the landmark takeover, which would take one of the world’s largest video game publishers private.
For PIF, the transaction represents another major investment in the global gaming and interactive entertainment industry, while Silver Lake brings extensive technology-sector investment experience to the consortium.
The deal remains subject to the remaining regulatory processes and other customary closing conditions before completion.
