Newcastle United owners strike £55bn deal with Donald Trump’s relative.
PIF are set to bolster their portfolio further with a game-changing £55billion investment.
The Public Investment Fund have struck a mouth-watering £55billion deal to buy video game behemoth Electronic Arts.
PIF will partner with private equity firm Silver Lake as well as Affinity Partners, owned by Donald Trump’s son-in-law, Jared Kushner, to take the California-based company private. EA are a household name in the industry, creating titles like EA Sports FC, Battlefield and The Sims.
EA release statement
EA have confirmed the takeover will take place in the first quarter of next year. CEO Andrew Wilson said: “Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work.
“Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”
Donald Trump relative speaks out
Kushner – married to Ivanka Trump and already has an invested relationship with PIF – also announced the deal. His statement read: “Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future. I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids – I couldn’t be more excited about what’s ahead.”
Yasir Al-Rumayyan on PIF strategy
Speaking in August, Toon chairman Yasir Al-Rumayyan – the PIF governor – promised further investment. He said: “In this next stage of its journey, PIF is accelerating investment while also reshaping the future of investment itself – through intelligence, precision, and agility. By year-end 2025, PIF and its portfolio companies aim to contribute SAR £238billion in cumulative non-oil GDP, enable £238billion in cumulative non-governmental investments, and achieve 60 per cent local content contribution.”