EU approves Saudi-led bid for Electronic Arts

The European Union on Thursday approved a $55 billion Saudi-led bid for Electronic Arts, the video game company known for The Sims and FIFA games.

Saudi Arabia's Public Investment Fund leads the consortium behind the deal. The consortium also includes US investment firms Silver Lake and Affinity Partners, the Miami-based firm founded by Jared Kushner, son-in-law of President Donald Trump.

The European Commission, the EU's competition regulator, said it concluded that the acquisition would not raise competition concerns because it would have a limited impact on competition in the markets where the companies are active.

The commission is also reviewing the takeover under the EU's foreign subsidies rules. A decision under those rules is expected by July 30.

The FIFA football games were updated annually from 1993 to 2023. Electronic Arts later lost the FIFA licence after a financial disagreement with the FIFA organisation. The game is now called EA Sports FC and has largely kept its player base.