Saudis seek EU subsidy approval for $55 billion EA deal, decision by July 30

Electronic Arts Inc.

Electronic Arts Inc.

EA

0.00

BRUSSELS, June 24 (Reuters) - A group of investors including Saudi Arabia's Public Investment Fund has sought EU subsidy approval for its $55 billion acquisition of videogame developer Electronic Arts EA.O, a European Commission filing showed on Wednesday.

The deal is also being reviewed separately under the bloc's merger rules.

The Commission, which will assess the deal under its Foreign Subsidies Regulations aimed at preventing unfair non-EU subsidies to companies looking to acquire rivals in the 27-country bloc ​or taking ​part ⁠in public tenders, set a July 30 deadline for its decision.

The EU competition enforcer can clear the deal unconditionally after its preliminary review, or it can open a full-scale investigation if it has serious concerns.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.