Saudi Arabia’s PIF already had a 5.01% stake in the platform holder, which was announced in May 2022 “for investment purposes,” and now stands at 6.07% precisely. That’s according to Reuters, based on a report from the country’s Public Investment Fund that was filed today with Japanese regulators.
Last year, Saudi Arabia bought a $1 billion stake in Embracer Group via the PIF’s subsidiary Savvy Gaming Group, which was the equivalent of approximately 8.1% of the company’s shares.
In a statement, Embracer Group CEO Lars Wingefors explained that this decision “was not taken lightly” and that it will “not change” the company “in any way.”
The PIF also acquired stakes in Capcom and Nexon, with over 5% in each publisher for a combined value of over $1 billion. It also acquired King of Fighters developer SNK almost entirely with a 96% stake, with the studio later also saying that it “doesn’t affect it in any way.”