Saudi Arabia's Crown Prince might acquire a majority stake in SNK

The Crown Prince of Saudi Arabia is set to become the majority stakeholder of Japanese games firm SNK.

As reported by Bloter, and translated via The Gaming Economy, Saudi Crown Prince Mohamed bin Salman will purchase the shares through the Electronic Gaming Development Company (EGDC).

According to the report, an agreement between EGDC and SNK has been made to sell 33 per cent of the games firm's outstanding stock.

Seal the deal

The deal is set to close on January 12th 2021 and could set the Crown Prince's firm back ₩207 billion ($186.9 million).

EGDC is owned by the Mohamed bin Salman bin Abdulaziz Al-Saud (MiSK) Foundation.

Earlier this year, SNK formed a partnership with Tencent to work on a new Metal Slug title for mobile devices.