Saudi Arabia's Public Investment Fund took a 5.01% stake in Nintendo Co., its third investment in a Japanese games company as the industry consolidates.
The PIF, as the $500 billion fund is known, said the Nintendo purchase was made for investment purposes, according to a filing to Japan's Finance Ministry. That is the same reason it has given with previous investments and the holding is set to make the Saudi fund Nintendo's fifth-largest shareholder, according to data compiled by Bloomberg.
Source: Bloomberg