The European Union on Thursday approved Saudi Arabia’s Public Investment Fund takeover of US video game publisher Electronic Arts, clearing the $55 billion deal without conditions.
The European Commission said it found no competition concerns in the video games market and concluded that the transaction would not create problems for consumers or rivals.
In a statement, the EU executive confirmed that "the notified transaction would not raise competition concerns".
Saudi Arabia’s sovereign wealth fund announced the acquisition in September alongside US investment firms Silver Lake and Affinity Partners, the latter founded by Jared Kushner, Donald Trump’s son-in-law.
The purchase of EA fits into Riyadh’s broader push to invest heavily in tourism and entertainment as it seeks to diversify an economy still heavily reliant on oil and gas production.
Electronic Arts is best known for its football video game series Fifa, which was renamed EA Sports FC after a financial dispute with world football’s governing body.
The Redwood City, California-based company also publishes licensed sports titles including Madden for American football, NHL for ice hockey, UFC for mixed martial arts and F1.
EA also owns The Sims franchise, one of the best-known life simulation games in the industry.
