Exclusive-Saudi PIF set to win EU nod for Electronic Arts deal under subsidy rules, sources say

BRUSSELS, July 17 : A group of investors including Saudi Arabia's Public Investment Fund is set to secure European Union approval for its $55 billion acquisition of video game developer Electronic Arts under EU subsidy rules, people familiar with the matter said. Saudi Arabia's $1 trillion wealth fund, Jared Kushner's Affinity Partners and private equity firm Silver Lake announced the deal, the largest leveraged buyout in history, in September last year. The deal represents a major push by PIF in its efforts to become a global hub for games and sports, betting on the enduring value of blockbuster game franchises as the industry recovers from a prolonged downturn.It also underscores the kingdom's diversification from oil into infrastructure, tourism, sports and gaming and other sectors. The