Saudi Arabia’s Public Investment Fund has dissolved its stake in Take-Two Interactive, a regulatory filing showed on Tuesday, ahead of the videogame publisher’s highly anticipated launch of “Grand Theft Auto VI.”
The PIF, Saudi Arabia’s sovereign wealth fund, was Take-Two’s second-largest shareholder with around 11 million shares worth just under $3 billion, according to data from LSEG.
The move comes even as the Kingdom intensifies its push into the videogame sector, staging several e-sports events in the country to position itself as a global hub for the industry.
Last year, the PIF had agreed to acquire Take-Two rival Electronic Arts in a $55 billion deal as part of its gaming bet.
Reuters
