SNK is now almost entirely owned by the Saudi crown prince’s foundation
by Jay Peters from The Verge - All Posts on (#5XW0K)
Photo by ALEXANDER ZEMLIANICHENKO/POOL/AFP via Getty Images SNK Corporation, the developer of games like Metal Slug and Fatal Fury, is now nearly entirely owned by a subsidiary of the Saudi crown prince's foundation. Electronic Gaming Development Company (EGDC), which is owned by the Mohammed bin Salman Foundation (MiSK Foundation), holds 96.18 percent of SNK's shares, according to a February 15th filing on SNK's website (PDF).
This follows a strategic investment" announced in November 2020, where the MiSK Foundation acquired an initial" 33.3 percent stake in SNK. At the time, MiSK Foundation indicated it planned to eventually take a 51 percent stake in SNK, but it seems MiSK Foundation decided to buy a much larger stake.
The Mohammed bin Salman Foundation's (MiSK Foundation) investment in...