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The agreement provides for the additional purchase of 17.7% of the shares, for which EGDC will acquire 51% of SNK and control it.
Original story
Mohammed bin Salman, crown prince of the Saudi crown, will put a foot and a half in SNK. This is confirmed by the Korean media Bloter, which reported on an agreement between this legendary video game company and EGDC (Electronic Gaming Development Company), a company based in Saudi Arabia and controlled by the future monarch.
As is often the case in these cases, the agreement will not have immediate effect. There are still shadows to be discovered, as neither SNK nor EGDC have made any official statements at this time. Everything seems to indicate that the transfer of the shares will be completed early next year with a transaction of approximately $ 223 million. What is clear is that Mohammed bin Salman will become the company’s largest shareholder ever since will control 33.3% of the shares, all through this signature. Although not officially confirmed, reports suggest the operation was 100% funded by Saudi Arabia.
Accused of violating human rights
The figure of the crown prince is more than controversial. The Saudi country has been accused on numerous occasions of not respecting human rights. Also, suspicions about his hypothetical involvement in the murder of Jamal Khalashoggi, a Washington Post reporter and dissident from the Saudi regime are still present. He was also charged with torture and the mass murder of civilians.
SNK, for its part, is one of the classic developers still active, although they have experienced numerous ups and downs with regards to ownership. In 2015 they were acquired by a Chinese investment group. This Japanese company founded in 1978 retains intellectual properties such as Metal Slug, The King of Fighters or Fatal Fury. The recent resurrection of Samurai Showdon heralded a good rebirth. It will be necessary to see which direction they will take in the future, now that behind there is a prince who is waiting for his moment.
Source | Nintendo Life
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