Saudi Arabia's MiSK Foundation Now Owns 96.18% Stake in SNKGame developer SNK introduced on February 15 that Electronic Gaming Development Company, the corporate wholly owned by Saudi Arabian group MiSK Foundation (Mohammed bin Salman Foundation), now owns a 96.18% stake in SNK after buying extra shares.

Electronic Gaming Development Company initially invested US$216.5 million in SNK in November 2020. It acquired a 33.3% stake in the corporate on the time, with a plan to buy an extra a 17.7% stake in the longer term to lift its possession to 51%.

Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia, is the group’s founder and chairman. The group and the Saudi Arabian animation studio Manga Productions (additionally owned by MiSK Foundation) have hosted an internship program with SNK in the previous. Manga Productions has additionally collaborated with Toei Animation on a variety of anime tasks, together with “The Woodcutter’s Treasure” brief, Future’s Folktales, and The Journey.

Crown Prince Mohammed bin Salman established MiSK in 2011. In February 2021, the U.S. Office of the Director of National Intelligence assessed that Crown Prince Mohammed bin Salman permitted an operation in Istanbul, Turkey to seize or kill Jamal Khashoggi. Khashoggi was a Saudi journalist who relocated to the United States and wrote for The Washington Post newspaper earlier than being killed in 2018. The Saudi Arabian authorities “completely reject[ed]” the U.S. evaluation.

SNK is understood for its franchises corresponding to King of Fighters, Metal Slug, Fatal Fury (Garō Densetsu), and Samurai Shodown (Samurai Spirits), and the NeoGeo console. SNK most just lately launched its The King of Fighters XV recreation on PlayStation 5, PlayStation 4, Xbox Series X|S, Windows 10, Steam, and the Epic Games Store on February 17.

Source: SNK