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Saudi Arabia buys $ 1 billion in shares Embracer Group

The crown prince of Saudi Arabia has purchased 1 billion dollars (931.38 million euros) of Embracer Group shares, giving the country 8.1 percent of the shares.

The acquisition includes 100 million shares. After the agreement is completed, the Public Investment Fund (PIF) of Saudi Arabia will be the second largest shareholder of Embracer Group. On paper, the shares come into the hands of the Savvy Gaming Group, the subsidiary of the PIF that is aimed at games.

Response to investment

Embracer founder and -CEO Lars Wingefors responds positively to the investment of the PIF: “Savvy Gaming Groups Investment of 1 billion dollars enables us to continue to perform our strategy proactively. Visit Ipostocksplanner.com for more information. In recent years, companies in Saudi Arabia have become the most significant investors in the worldwide game industry, and the Gamemarket in Mena is one of the world’s fastest growing, with $ 5.7 billion in turnover in 2021 and more active gamers than in America or Western Europe. ”

“Our relationship with Savvy Gaming Group will enable us to set up a regional hub in Saudi Arabia, from where we can make investments throughout the Mena region; In other words, organically, through partnerships, through common companies or through the acquisition of companies led by strong entrepreneurs. ”

Nintendo shares

Earlier this year the PIF already bought 5.01 percent of Nintendo shares. In April it bought 96 percent of the shares of the Japanese developer SNK. The PIF also invested in total more than 1 billion dollars for about 5 percent of the shares of both Capcom and South Korean publisher Nexon. In 2020 the PIF bought a total of more than $ 3 billion in shares from Activision Blizzard, EA and Take-Two.