CORRECTED-UPDATE 1-Saudi's Public Investment Fund transfers stake in Take-Two Interactive

الكترونيك ارتس -0.02%
تيك-تو إنترأكتيف -0.65%

Electronic Arts Inc.

EA

203.20

-0.02%

Take-Two Interactive Software, Inc.

TTWO

212.76

-0.65%

Corrects story and headline to clarify that PIF has transferred the stake to a subsidiary, and not dissolved it, and removes reference to Saudi's gaming push

- Saudi Arabia's Public Investment Fund has transferred its stake in Take-Two Interactive TTWO.O to a subsidiary, a regulatory filing showed on Tuesday, ahead of the videogame publisher's highly anticipated launch of "Grand Theft Auto VI."

The PIF, Saudi Arabia's sovereign wealth fund, was Take-Two's second-largest shareholder with around 11 million shares worth just under $3 billion, according to data from LSEG. The position is now held by Savvy Games Group.

Last year, the PIF and others agreed to acquire Take-Two rival Electronic Arts EA.O in a $55 billion deal as part of its gaming bet.