Saudi PIF's $55 Billion EA Acquisition: Full Timeline and EU Regulatory Status

Deal Structure and Consortium

The acquisition was announced on September 29, 2025, when a consortium comprising Saudi Arabia's Public Investment Fund (PIF, with approximately $1 trillion in assets under management), private equity firm Silver Lake, and Jared Kushner's Affinity Partners announced a leveraged buyout to take EA private .

• Price: $210 per share in cash, representing a 25% premium to EA's market value at announcement .
• Total value: Approximately $55 billion enterprise value .
• Ownership structure: PIF is expected to own "almost all" of EA after the buyout. A Brazilian regulatory filing reported that PIF would hold roughly 93.4% of the company, with Silver Lake and Affinity Partners as minority co-investors . EA itself stated the deal is "anticipated to conclude in Q1 FY27" .

Shareholder and US Regulatory Approvals

• Shareholder approval: EA shareholders voted to approve the $210-per-share sale on December 22, 2025, with the company's board having already recommended the deal .

EU Antitrust (Merger) Approval — Granted July 23, 2026

On July 23, 2026, the European Commission unconditionally cleared the deal under the EU Merger Regulation . The Commission concluded that the acquisition "would not raise competition concerns" since it primarily involves video game content production and distribution .

The preliminary review deadline for the merger clearance had been set to July 22, 2026 . The Commission issued its clearance one day later.

EU Foreign Subsidies Regulation (FSR) Review — Decision Pending (Deadline July 30)

On June 24, 2026, the consortium filed for approval under the EU's Foreign Subsidies Regulation, which targets potentially distortive subsidies from non-EU governments . The European Commission set a provisional deadline of July 30, 2026 to decide on the subsidy component .

On July 17, 2026, Reuters reported that the PIF-led group was "set to secure" EU approval under the FSR rules, with clearance expected after the preliminary review ends on July 30 .

Status as of July 24, 2026: The FSR decision has not yet been formally announced. The July 30 deadline is still active.

Anticipated Closing Timeline

The transaction timeline as currently understood:

The consortium is expected to proceed with closing immediately after the FSR process concludes on or around July 30, assuming the anticipated clearance materializes. No further major regulatory hurdles have been publicly identified in other jurisdictions.