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17:00-19:00Aug 52 Stories
Saudi fund leads buyout of video game giant EA
It’s perhaps the largest leveraged buyout in history.
‘The Sims’ video game maker EA bought by Saudi-led group for $55 billion with Jared Kushner’s help
With the transaction finalized, EA stockholders will receive $210 in cash per share, and the company’s stock is no longer traded on the public market
12:00Aug 53 Stories
EA's $55bn sale to Saudi-led group closes — $700 million in cuts on the horizon
The deal, which includes Jared Kushner's Affinity Partners, takes EA private and loads the company with $18 billion in debt.
Video game giant Electronic Arts closes $55 billion go-private sale of its business
Video game giant Electronic Arts officially has new owners. The California-based maker of popular titles like “Battlefield” and “The Sims” announced Tuesday that it closed the $55 billion sale of its business to Saudi Arabia’s sovereign wealth fund PIF, investment firm Silver Lake Partners and Affinity Partners, which is run by U.S. President Donald Trump’s son-in-law Jared Kushner. In a statement, CEO Andrew Wilson said EA and its new owners would “invest boldly, accelerate innovation, and build the next generation of games and experiences for the hundreds of millions of players and fans who inspire us every day.”