At the end of 2020, the MISK Foundation acquired 33% of the Units of SNK Corporation and announced its intention to become the majority shareholder at 51% later. Today, it is learned that the company of the Prince Heir Mohammed Bin Salman has even 96.18% of the publisher of The King of Fighters and Metal Slug.
The announcement of this acquisition took place on February 15 but went completely unnoticed since all this time (thank you Queera), no doubt because the financial documents have never been published elsewhere than on the Korean site of SNK. Yes, it has become a bit complicated, but SNK is a Japanese company with a Chinese president, who is traded on the Korean market and therefore now a Saudi property.
The name of the company that will now fund SNK is Electronic Gaming Development Company, a subsidiary of the Misk Foundation founded on October 14, 2020 and directed by Abdullah Abdulrahman Alayadhi. On the basis of a purchase offer of 37,197 Won per share, this company based in Riyadh spent the equivalent of 552 million euros to take control of SNK. Recipient in 2018, 2019 and 2020, SNK, however, published a net loss of € 8 million at the end of its annual fiscal year ended July 31, 2021.
If you want a little more information on the objectives of the MISK Foundation and the portrait of Mohammed Bin Salman, who recently invested $ 3.3 billion in EA, Activision Blizzard and Take-Two, we invite you to reread this that we had already published at the time of his first participation in SNK. Or any other recent press article dealing with his majesty’s arms.