Saudi PIF and Jared Kushner Near to Take Over Electronic Arts

A Saudi-led consortium is expected to secure European Union approval for its $55 billion acquisition of Electronic Arts, clearing two of the most important remaining regulatory reviews for the largest leveraged buyout in history.

The European Commission is expected to grant unconditional antitrust clearance when its preliminary merger review ends on July 22, according to people familiar with the process cited by Reuters. A separate examination under the EU Foreign Subsidies Regulation is expected to conclude with approval on July 30.

The second review examines whether financial support from governments outside the European Union gives an investor an unfair advantage when acquiring a company operating within the bloc. The Commission could have opened an extended investigation or demanded concessions, although it is now expected to clear the Electronic Arts transaction after its initial assessment.

The consortium comprises Saudi Arabia’s Public Investment Fund, technology-focused private equity firm Silver Lake and Affinity Partners, the investment company founded by Jared Kushner. The investors agreed in September 2025 to acquire 100% of Electronic Arts in an all-cash transaction valuing the company at approximately $55 billion.

EA shareholders are set to receive $210 per share, representing a 25% premium over the company’s unaffected closing price of $168.32 on September 25, 2025. Once completed, EA will become privately owned and its shares will be removed from public markets.

The financing includes approximately $36 billion in equity from the three investors, including the rollover of PIF’s existing 9.9% holding in EA. JPMorgan Chase has committed $20 billion in debt financing, with $18 billion expected to be drawn when the transaction closes. The unusually large debt component is what makes the transaction a leveraged buyout rather than a conventional cash acquisition.

Electronic Arts will remain headquartered in Redwood City, California, and Andrew Wilson will continue as chief executive. The company reported approximately $7.5 billion in revenue for its 2025 fiscal year and controls major franchises including EA Sports FC, Battlefield, Apex Legends, The Sims, Madden NFL and Need for Speed.

For PIF, the acquisition would provide controlling exposure to a large portfolio of established gaming intellectual property, recurring digital revenues and global sports-licensing businesses. The Saudi fund already held nearly 10% of EA before the agreement and has built a broader gaming portfolio through its investments and its Savvy Games Group subsidiary.

Neither the European Commission nor Electronic Arts commented on Reuters’ report that approval was approaching, while PIF did not respond to a request for comment. Until the Commission issues its formal decisions, the expected clearances remain based on information from people familiar with the regulatory process.