EU clears $55 billion PIF acquisition of Electronic Arts

The European Commission has approved the $55 billion acquisition of video game publisher Electronic Arts by a consortium led by Saudi Arabia's Public Investment Fund, removing a major regulatory hurdle for the historic deal. The approval, granted under the EU Merger Regulation, was announced on July 23 and concludes that the transaction does not raise competition concerns.

The Commission stated the deal, which covers video game production and distribution across mobile, PC, and console platforms as well as esports events, has a limited impact on competition in the relevant markets. It was therefore cleared under the normal merger review procedure. The investor group, which also includes private equity firm Silver Lake and Jared Kushner's Affinity Partners, announced the acquisition in September 2025. Once completed, the Public Investment Fund will own 93.4% of Electronic Arts.

This transaction is poised to become the largest leveraged buyout in history, meaning it is financed primarily with borrowed debt. While the merger approval is a significant step, the deal still faces scrutiny under the European Union's Foreign Subsidies Regulation, which aims to prevent unfair advantages...