The report says Saudi Arabia will own almost all of EA’s shares under the takeover plan

Saudi Arabia’s Public Investment Fund may own almost all of Electronic Arts Inc.’s shares, according to reports. Under the plan to acquire the video game giant.

The Saudi fund will own 93.4% of EA, which is headquartered in Redwood City, according to A. Tuesday’s Wall Street Journal reportwhich referred to a recent filing with the Brazilian antitrust regulator. The newspaper reported that private equity firm Silver Lake Partners will own 5.5% of the gaming company, while Affinity Partners, run by Jared Kushner, will own 1.1%.

Representatives for EA, Silver Lake Partners and Affinity Partners did not immediately respond to requests for comment.

EA’s $55 billion deal announced in September would be the largest leveraged acquisition in history. The deal is expected to close next year, pending regulatory and shareholder approval.

EA has scheduled a shareholder meeting to vote on the proposal later this month. If the deal is approved, the company known for “The Sims” and “Madden NFL” will become a private company.

The takeover bid comes as the video game industry is undergoing consolidation and struggling to return to the high growth rates seen during the pandemic.

While video games remain hugely popular, and some franchises are seeing success transitioning into films or series, EA’s annual revenues have remained stagnant over the past three fiscal years, hovering between $7.4 billion and $7.6 billion.

Times staff writer Wendy Lee contributed to this report.