Saudi Crown Prince's Foundation to buy 51% stake in SNK publisher
|The Mohammad bin Salman charitable Foundation (Mohammad bin Salman) intends to acquire a controlling stake in the Japanese publisher SNK, known for the release of fighting games. The investment of 813 million riyals ($223 million) in SNK came from Misk, one of the Fund's subsidiaries, which now owns approximately 33.3% of all SNK shares. |
The resulting investment will raise the company's value to approximately $669 million. In a press release, Misk said It also intends to acquire an additional stake soon as part of the current deal, which will increase the ownership of the Saudi-based firm to 51 %, making it the majority shareholder with a controlling stake.
There have been some curious allegations against Misk in recent years, and most recently, in November 2019, the organization was criticized when the US Department of justice linked one of The organization's leaders to recruiting spies via Twitter. Misk said its goal is to invest in initiatives that will help develop and encourage learning and leadership among young people in order to achieve a better future for Saudi Arabia.
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