Saudi Arabia’s sovereign wealth fund has completely liquidated its holdings in Take-Two Interactive, according to regulatory documents filed Tuesday, just as the gaming company prepares to release the much-awaited “Grand Theft Auto VI.”
The Public Investment Fund of Saudi Arabia had been the second-biggest investor in Take-Two, holding approximately 11 million shares valued at nearly $3 billion, based on LSEG data.
This divestment occurs despite Saudi Arabia’s aggressive expansion into the gaming industry, as the nation hosts numerous e-sports competitions and works to establish itself as a worldwide gaming center.
In the previous year, the PIF had made an agreement to purchase Take-Two competitor Electronic Arts through a $55 billion transaction as part of its broader gaming investment strategy.
