The announcement of this acquisition took place on February 15 but has gone completely unnoticed for all this time (thanks ResetEra), probably because the financial documents have never been published anywhere other than on SNK’s Korean site. Yes, it got a little complicated, but SNK is a Japanese company with a Chinese president, which is listed on the Korean market and therefore now Saudi-owned.
The name of the company that will now finance SNK is Electronic Gaming Development Company, a subsidiary of the MiSK foundation founded on October 14, 2020 and headed by Abdullah Abdulrahman AlAyadhi. Based on a bid of 37.197 won per share, the Riyadh-based company spent the equivalent of 552 million euros to take control of SNK. Beneficiary in 2018, 2019 and 2020, SNK however published a net loss of 8 million euros at the end of its annual financial year ended July 31, 2021.
If you want a little more information on the objectives of the MiSK foundation and on the portrait of Mohammed bin Salman, who recently invested $3.3 billion in EA, Activision Blizzard and Take-Two, we invite you to read this that we had already published when he first acquired a stake in SNK. Or any other recent press article dealing with Her Majesty’s feats of arms.
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