Saudi Arabia’s PIF acquires 5 percent stake in Nintendo as it drives further into gaming investments – Arabian Business

Saudi Arabia’s PIF acquires 5 percent stake in Nintendo as it drives further into gaming investments – Arabian Business

Saudi Arabia’s Public Investment Fund (PIF) has acquired a 5.01 percent stake in Nintendo Co, marking its third investment into a Japanese games company as the industry consolidates. 

The $500 billion Public Investment Fund said the Nintendo purchase was made for investment purposes, according to a filing to Japan’s Finance Ministry.

The same reason was given for previous industry investments. With the 5 percent holding, the PIF is set to become Nintendo’s fifth-largest shareholder, according to data compiled by Bloomberg.