OpCapita Bids Again To Acquire Troubled Game Group - Report
29 Marzo 2012 - 1:19AM
Noticias Dow Jones
Investment company OpCapita has submitted another bid to acquire
parts of troubled video games retailer Game Group PLC (GMG.LN) out
of administration, the Independent reports Thursday.
But the retailer's syndicate of six banks is also continuing to
evaluate a separate proposal to keep the U.K. chain on the high
street, as part of a debt-for-equity swap, the newspaper reports,
without citing any sources.
OpCapita had its initial offer for Game rejected by the banks,
including Royal Bank of Scotland Group PLC (RBS) and Barclays PLC
(BCS), last week. This forced the retailer to appoint
PricewaterhouseCoopers as administrator on Monday, following the
chain's failure to pay its GBP21 million second-quarter rent. The
accountancy firm closed 277 of Game's 610 U.K. shops, resulting in
2,089 redundancies.
Full story:
http://www.independent.co.uk/news/business/news/opcapita-bids-again-to-acquire-troubled-game-7595055.html
-London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330;
generaldesklondon@dowjones.com
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