EU Antitrust Approves PIF's $55 Billion Acquisition of EA
N.R. Finch
The European Commission on Thursday cleared the $55 billion takeover of EA by a Saudi-led consortium on antitrust grounds, finding no competition concerns — but a separate probe under the EU's foreign-subsidies rules remains pending, with a decision expected July 30.
How big is this deal?
The acquisition is valued at $55 billion, making it the largest leveraged buyout in history.
The buying consortium comprises Saudi Arabia's Public Investment Fund (PIF — the kingdom's sovereign wealth fund), Jared Kushner's Affinity Partners, and private-equity firm Silver Lake.
The three parties announced the deal in September last year, targeting U.S. gaming giant EA, the company behind the FIFA and Battlefield franchises.
Why did the EU clear it?
The European Commission reviewed the deal on antitrust grounds and concluded it raises no competition concerns.
This means → Brussels sees no risk that the buyers would gain enough market power in gaming to squeeze out rivals.
The antitrust clearance removes one key regulatory hurdle from the deal's path.
Where is the real uncertainty?
The Commission is separately examining the deal under the Foreign Subsidies Regulation (FSR) — an entirely independent regulatory gate.
In plain terms = the FSR doesn't ask "will you monopolise the market?" It asks "is an unfair government subsidy behind the buyer?" A sovereign wealth fund naturally triggers that question.
Reuters, citing people familiar with the matter, reports PIF is expected to clear the FSR review as well; the Commission's decision is due July 30.
Content is for reference only, not financial advice.