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Saudi PIF, Jared Kushner's Affinity Finalize $55 Billion EA Sports Acquisition

GateNews
Stocks
EA-0.03%

According to CNBC, the Public Investment Fund of Saudi Arabia, Silver Lake, and Affinity Partners completed the $55 billion acquisition of Electronic Arts on Tuesday. EA shareholders will receive $210 in cash per share, and the company's stock has ceased trading and will be delisted from the Nasdaq.

The consortium borrowed $20 billion from JPMorgan, marking what is believed to be the largest leveraged buyout in history. PIF's head of international investments Turqi Alnowaiser stated that entertainment and sports remain key strategic focus areas for the fund.

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