Infogrames says BlueBay extends Atari additional 4-mln-usd credit line |
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Published
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Tue, 11 Dec 2007 07:38
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PARIS (Thomson Financial) - French video game maker Infogrames Entertainment said its Atari Inc subsidiary has received an additional 4-mln-usd credit line as part of a financial restructuring aimed at stabilizing the company's operations.The new credit line from BlueBay High Yield Investments brings the total amount of credit extended to Atari by BlueBay to 14 mln usd, Infogrames said in a statement.Infogrames and Atari have also signed a new distribution agreement giving Atari the rights to sell Infogrames games in North America and keep 30 pct of the sales generated. The company's will negotiate a reciprocal agreement for distributing Atari games outside of North America, Infogrames said.The two companies are also ending a support services contract under which Atari and Infogrames supplied production and management services, respectively, to its partner. An undisclosed number of Atari's production and development employees has been transferred to Infogrames due to the the ending of these contracts, Infogrames said.greg.keller@thomson.comgk1/lamCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Infogrames says strategy unaffected by Atari's exit from games production 