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Saudi Arabia has upped its stake in main U.S. recreation writer EA and Take-Two Interactive.
As noticed by Axios, the Saudi Public Funding Fund (PIF), a state-backed group chaired by deputy prime minister and crown prince Mohammed bin Salman Al-Saud, has elevated it stake in EA to five.8 p.c from 5.1 p.c. That is in accordance with an SEC submitting submitted in December 2022.
One other SEC submitting submitted on the similar time exhibits PIF additionally elevated its stake in Grand Theft Auto maker Take-Two to six.8 p.c from 5.3 p.c.
This is not the primary time PIF and the Saudi state has signalled its intent to take a position closely within the online game trade. Earlier this week, PIF purchased extra shares in Nintendo to extend its stake within the Change maker to 7.08 p.c.
Final yr, the sovereign wealth fund additionally acquired stakes in Capcom and Nexon, and bought a $1 billion stake in Embracer Group by means of its Savvy Gaming Group subsidiary.
These offers have been scrutinized resulting from Mohammed bin Salman Al-Saud’s involvement with PIF. The Saudi crown prince has beforehand been accused of permitting human rights activists to be tortured, and has additionally confronted allegations over potential hyperlinks to the homicide of Washington Put up journalist Jamal Khashoggi.
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