Games

Saudi Arabia’s controversial crown prince aiming to take ownership of SNK’s majority

The Crown Prince of Saudi Arabia purchased 33.3% of SNK, the developer of The King of Fighters, Samurai Spirits, Metal Slug, etc., through a youth-focused MiSK charity. Misuku has announced its intention to purchase a total of 51% of the shares and take ownership of the majority. This is already a controversial move, given that Crown Prince Mohammed bin Salman was previously directly involved in the killing of the Washington Post journalist. Jamal Khashoggi, accused of sending assassination hits to Canada, is the de facto leader of a country that has been repeatedly accused of multiple human rights abuses.

33.3% of SNK shares were purchased for approximately $ 216 million, with a company-wide valuation of approximately £ 648 million.

The move to win a majority of SNK, announced today by the MiSK organization, is “to men and women in Saudi Arabia through building economic partnerships as part of the agency’s latest strategy to maximize the impact on youth empowerment. Described as a means of “empowering”. MiSK has previously collaborated with SNK on video game and animation projects to create a training program for aspiring Saudi Arabian game developers.

When SNK asked for comment from IGN, it refused, except to point out the share transfer agreement.
Joe Skrebels is IGN’s Editor-in-Chief of News.Follow him twitter.. Do you have any hints? Want to discuss a possible story? Please send an email to newstips@ign.com.

https://www.ign.com/articles/controversial-crown-prince-of-saudi-arabia-aiming-to-acquire-majority-ownership-of-snk

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