Saudi Arabia’s Public Investment Fund is set to own 93.4% of Electronic Arts Inc. in a $55 billion buyout deal, making it the largest leveraged buyout in history. The deal, pending regulatory and shareholder approval, would see private equity firm Silver Lake Partners holding 5.5% and Jared Kushner-run Affinity Partners with 1.1% ownership.

EA has scheduled a shareholder meeting to vote on the proposal, which, if approved, will take the company private. Despite the popularity of video games, EA’s revenues have remained stagnant over the past three fiscal years, ranging from $7.4 billion to $7.6 billion.

The buyout offer comes as the video game industry experiences consolidation and struggles to return to pre-pandemic growth rates. Some franchises are finding success in film or series adaptations, but EA’s revenues have plateaued in recent years.

Representatives from EA, Silver Lake Partners and Affinity Partners have not responded to requests for comment. The deal is expected to close next year, pending approval.

Read more at Yahoo Finance: Saudi Arabia’s public investment fund to own almost all of EA under buyout plan, report says