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+--- Thread: News - Saudi Arabian charity Misk acquires 33.3% stake in SNK (/thread-98549.html)
News - Saudi Arabian charity Misk acquires 33.3% stake in SNK - xSicKxBot - 12-01-2020
Saudi Arabian charity Misk acquires 33.3% stake in SNK
<div style="margin: 5px 5% 10px 5%;"><img src="https://www.sickgaming.net/blog/wp-content/uploads/2020/11/saudi-arabian-charity-misk-acquires-33-3-stake-in-snk.jpg" width="200" height="200" title="" alt="" /></div><div><p>The crown prince of Saudi Arabia, Mohammed Bin Salman, has purchased a 33.3 percent stake in Japanese game company SNK through his charity ‘Misk.’ </p>
<p><a href="https://misk.org.sa/blog/...ؤسسة-...ح...د-بن-سل...ان-الخيرية-تعلن-عن-است/">As explained in a press release</a> (via Google Translate), the deal cost Misk around 813 million riyals ($216.7 million) and roughly values SNK at around $650 million. </p>
<p>This won’t be the last investment the charity makes in the <em>Metal Slug</em> and <em>Samurai Showdown</em> developer, either, and Misk is now set to purchase another 17.7 percent of SNK’s shares to raise its ownership of the company to 51 percent — giving it a controlling stake. </p>
<p>The deal will likely come under scrutiny given Saudi Arabia’s poor human rights record, with a <a href="https://www.hrw.org/world-report/2020/country-chapters/saudi-arabia">recent report from Human Rights Watch</a> highlighting the current regime’s poor treatment of activists, women, and migrants (to name but some of the issues in the region). </p>
<p>Earlier this year, Misk itself was placed under review by Saudi Arabian leaders after being linked to a number of alleged scandals. <a href="https://www.ft.com/content/1962e84f-74e8-48aa-8d61-f8cbd1e60c22">As reported by the Financial Times</a>, the organization and some of its officials have been tied to assassination and espionage attempts — leading to questions about the integrity and purpose of the charity. </p>
<p>SNK, which <a href="https://www.gamasutra.com/view/news/271252/Metal_Slug_creator_SNK_Playmore_rebrands_as_SNK.php">rebranded in 2016 after being acquired by Chinese investors</a>, has yet to comment on the deal publicly.</p>
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https://www.sickgaming.net/blog/2020/11/27/saudi-arabian-charity-misk-acquires-33-3-stake-in-snk/