(Corrects story and headline to clarify that PIF has transferred the stake to a subsidiary, and not dissolved it, and removes reference to Saudi’s gaming push)
Feb 17 (Reuters) – Saudi Arabia’s Public Investment Fund has transferred its stake in Take-Two Interactive to a subsidiary, 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 position is now held by Savvy Games Group.
Last year, the PIF and others agreed to acquire Take-Two rival Electronic Arts in a $55 billion deal as part of its gaming bet.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)
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