Bluebay Buys into Infogrames
By Shawn on Tuesday, July 31st, 2007 at 9:54 PM PST In Game Companies, Games Industry
Infogrames, the parent company of U.S. based Atari, has announced that Bluebay has bought up major chunk of the company. Bluebay now owns 22.5 percent of the publisher’s stock. Although it claims it has no plans to take over Infogrames, Bluebay does plan to seek representation on the publisher’s board. Bluebay is the largest shareholder of Infogrames’ stock. It is scheduled to purchase up to 49 percent of the publisher’s stock. Infogrames has announced that sales have fallen over the last year due to decline in US sales in the second half.
One has to wonder why a company would purchase such a large interest in another company, and yet be content to merely have a say on the board. It’s hard to believe they are buoying a floundering company out of the goodness of their hearts. I wonder how long that will last.
via Gamasutra
