PIF to Earn $1.1bln as of its stake, in Activision Blizzard

The value of the Public Investment Fund’s stake, in Activision Blizzard, will rise by as much as $1.1 billion, following reports of Microsoft’s acquisition of the American entertainment company.

The Public Investment Fund, which began building its position, in the company for the first time, at the end of 2020, was holding a stake of about 37.9 million shares, in Activision, at the end of September, according to public filings.

Microsoft will pay $95 per share, in cash, according to Bloomberg News, and PIF’s, stake, accordingly, shall be valued at $3.6 billion, up from $2.5 billion, on Friday’s close.

Microsoft announced its plans to acquire the video game maker Activision Blizzard for $68.7 billion.

In case of the deal completion, Microsoft will become the world’s third-largest gaming company by revenue, after Tenst and Sony, according to the company statement.

It is worth noting that Activision Blizzard is an American video game company that holds the famous Blizzard Entertainment and Activision entertainment companies, headquartered in Santa Monica, California, and was founded in July 2008, by the merger of Activision and Vivendi Games.

In addition, its symbol on the Nasdaq Stock Exchange, is ATVI, and its stock since 2015 has been among the S&P 500.