[BB] A consortium led by Saudi Arabia’s Public Investment Fund has finalized a $55 billion takeover of video game giant EA, with financing support from Silver Lake and Jared Kushner’s Affinity Partners. The terms of the deal, including $20 billion borrowed from JPMorgan, make it the largest leveraged buyout on record.
CNBC reports that the deal, which closed late Tuesday, marks one of the largest leveraged buyouts in history and represents a significant expansion of Saudi Arabia’s presence in the gaming and sports industries. EA confirmed that its stock has ceased trading and will be delisted from the Nasdaq exchange. |