Saudi Arabia PIF transfers stake in Take-Two (TTWO) to Savvy Games Group
Savvy will take over a position of around 11 million shares as the second largest shareholder in Take-Two.
The Saudi Arabian Public Investment Fund (PIF) has offloaded a large stake in Take-Two Interactive to a subsidiary ahead of the launch of Grand Theft Auto 6. The position will be taken over by the PIF-backed Savvy Games Group.
The Saudi PIF stake transfer was reported in a regulatory filing this week, as shared by Reuters. At the time of the transfer, the PIF held a position of about 11 billion shares in Take-Two Interactive, valued at just beneath $3 billion. The stake was the second largest shareholder position in Take-Two Interactive, based on data from LSEG Data & Analytics.
Source: Rockstar Games
While it would appear that Saudi is divesting out of Take-Two directly, Savvy Games Group will keep its foot in the door of Take-Two’s business, success, and/or failures. Grand Theft Auto 6 is still on track to release in 2026, and despite Take-Two's diversified offerings, there's a definite weight in Grand Theft Auto 6 that has Take-Two's stock moving around news about the game. Meanwhile, Savvy itself operates as a subsidiary of the Saudi PIF, being backed by the Public Investment Fund. So, this is less of Saudi getting out Take-Two and more moving its stake to a different hand.
With the stake moved, Savvy Games Group will take over Saudi PIF’s 11 million share stake. As we watch for more news and updates, stay tuned to the Take-Two Interactive topic.
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replyTJ Denzer posted a new article, Saudi Arabia PIF transfers stake in Take-Two (TTWO) to Savvy Games Group
