Electronic Arts’ $55 billion sale to a consortium led by Saudi Arabia’s Public Investment Fund has cleared EU merger review, removing one of the largest regulatory questions around the biggest leveraged buyout ever attempted in gaming.
The European Commission published the approval in its daily bulletin, saying the proposed acquisition would not raise competition concerns under its standard merger procedure. The decision moves EA closer to becoming a private company owned by PIF, Silver Lake and Affinity Partners.
The deal is huge even by modern games industry standards. EA announced the agreement in September 2025, valuing the publisher at roughly $55 billion and offering stockholders $210 per share in cash. EA said PIF would roll over its existing 9.9% stake, while the transaction would be financed through about $36 billion in equity and $20 billion in debt financing.
EU approval leaves fewer public hurdles
EA shareholders approved the transaction in December, and the Commission’s merger clearance means Europe is no longer a major obstacle on that front. The deal still has to satisfy any remaining closing conditions before EA can leave the public market.
If completed, the acquisition would put one of gaming’s largest publishers under private ownership. EA’s portfolio includes EA Sports FC, Madden NFL, Battlefield, Apex Legends, The Sims, Dragon Age, Need for Speed, Titanfall, Plants vs. Zombies and F1. That scale is why each regulatory step has mattered to players, developers and workers watching the deal.
The buyout has also faced pressure beyond competition law. Saudi Arabia’s PIF has spent heavily across games, esports and sports as part of the country’s wider investment strategy, a push critics and human rights groups have described as sportswashing. Labor groups have raised separate concerns about the deal, including worker protections and the amount of debt attached to the transaction.
Those concerns have already reached EA’s workforce. A protest was planned at EA’s Redwood City headquarters last year as union organizers and employees pushed back on the buyout.
EA said when the agreement was announced that Andrew Wilson would remain CEO and the company would stay headquartered in Redwood City, California after closing. With the EU’s merger review now cleared, the question becomes how soon the remaining approvals and conditions can be resolved, and what private ownership changes for one of gaming’s most powerful publishers.