Saudi Arabia's Fund Will Hold More Than 93% of EA After Deal Completion

Ever since Electronic Arts' impending acquisition by the Saudi Arabia Public Investment Fund, Silver Lake, and Affinity Partners was announced in late September, many headlines have labeled it as "Saudis buying EA," overlooking the other two partners.

Apparently, those who framed the buyout that way were on point, with a new report claiming that once the deal closes, PIF will indeed own most of the gaming giant.

But what does "most" mean, exactly? Well, according to The New York Times, citing a November filing with Brazil's antitrust regulator that it obtained, the Public Investment Fund will own 93.4% of EA after the deal closes, essentially making it the studio's de facto owner.

Meanwhile, the other partner, Silver Lake, will hold just 5.5% of EA, with Affinity Partners taking the remaining 1.1%. Considering PIF's existing stake in EA, the total deal price of roughly $55-56 billion, and the $20 billion debt the triumvirate is committing to, The New York Times estimates that the Saudis had to inject about $29 billion in new cash to reach their final ownership share.

Previously, the same outlet alleged that the fund is short on money for new investments, saying most of its wealth is tied up in illiquid, hard-to-sell deals. The fund's spokesman Marwan Bakrali, however, said it had $60 billion in cash and other financial instruments, calling it "very liquid by regional standards." You can read more by clicking this link.

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