BRUSSELS, June 24 (Reuters) – A group of investors including Saudi Arabia’s Public Investment Fund has sought EU subsidy approval for its $55 billion acquisition of videogame developer Electronic Arts, a European Commission filing showed on Wednesday.
The deal is also being reviewed separately under the bloc’s merger rules.
The Commission, which will assess the deal under its Foreign Subsidies Regulations aimed at preventing unfair non-EU subsidies to companies looking to acquire rivals in the 27-country bloc or taking part in public tenders, set a July 30 deadline for its decision.
The EU competition enforcer can clear the deal unconditionally after its preliminary review, or it can open a full-scale investigation if it has serious concerns.
(Reporting by Foo Yun Chee; Editing by Jan Harvey)
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