Gamestop Says Bonjour to France

gamestop buyGamestop is billed as the world’s largest video game retailer but until today, they had no footprint in France, Europe’s second largest market.  For $700 million, including debt, that will now change.

Gamestop announced Wednesday they will buy France’s Micromania retail chain from L Capital,  a private equity firm affiliated with LVMH.

The all cash deal will be funded through a combination of cash on hand (the company had $539.9m in Cash and Equivalents as of August 2nd), a $150m term loan from Bank of America and existing lines of credit.

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