Affinity Partners
EA Now Officially Owned by Saudi Arabia's PIF, Silver Lake and Jared Kushner's Affinity Partners After $55 Billion Deal Closes
Electronic Arts has gone private in the largest leveraged buyout in history, with Saudi Arabia's Public Investment Fund taking a 93-94% stake alongside Silver Lake and Jared Kushner's Affinity Partners, raising concerns over layoffs, creative direction and human rights.
6 outletsBusinessEA Goes Private in $55 Billion Saudi-Backed Buyout, Fueling Fears of Mass Layoffs
Electronic Arts has officially completed its $55 billion leveraged buyout by Saudi Arabia's Public Investment Fund, Silver Lake, and Jared Kushner's Affinity Partners. The deal, which loads EA with $18 billion in debt, has sparked widespread fears of mass layoffs as the publisher looks to cut $700 million in annual costs.
6 outletsBusinessElectronic Arts Officially Goes Private in $55 Billion Deal, Raising Layoff Fears
After nearly 36 years as a public company, Electronic Arts has completed a $55 billion buyout led by Saudi Arabia's PIF, with Silver Lake and Jared Kushner's Affinity Partners also involved. The deal delists EA from Nasdaq, and reports suggest the $18 billion in debt taken on could lead to significant cost cuts and layoffs.
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