OpCapita Offering to Buy GAME

Like Zelda’s vision of a boy with a fairy coming from the forest, there is hope on the horizon for the UK specialist games retailer, following reports that OpCapita has made a buyout offer for GAME Group.

Once again reported by The Times and later confirmed by MCV, OpCapita, the parent company which owns Comet, has made a complete buyout offer for the group.

This buyout offer includes repaying all of the groups suppliers. This includes Sony who, due to worries about stock, marked Playstation Vita systems destined for GAME as still belonging to Sony to prevent them being seized should GAME Group go into administration. So far the group has been unable to stock major titles like Mass Effect 3, The Last Story, Mario Party 9. It has also been announeced that they won’t be selling upcoming titles such as Resident Evil: Operation Raccoon City and Kid Icarus Uprising.

The Times added that “the company has already warned shareholders that they may be wiped out by the actions the board are considering to keep it afloat. It employs about 6,000 staff in Britain and Ireland and has more than 600 stores.

It is not known if they plan to accept this offer, but it has already triggered a 70 percent increase in share prices since trading opened this morning, and with talk of Walmart being interested in making an offer, GAME Group certainly looks to be in a better position that it was just a few days ago.

OpCapita successfully improved Comet’s fortunes, and current speculation suggests that they may look to sell Gamestation should the buyout occur.

What do you think? Would this buyout and new ownership be enough for you to return to the company? Have you been left without a game at launch due to a cancelled pre-order? Will that prevent you from returning to the company? Let us know in the comments below.

UPDATE:

GAME Group released the following statement confirming that they are in talks with a third party, believed to be OpCapita:

“The board of GAME confirm that a third party has shown interest in providing additional funding for the company. The third party is seeking a dialogue with the Group’s current lenders, however there is no certainty to the outcome.

At the same time, the Board remains in its own discussions with its current lenders as it continues to conduct a review of its business and assets. It is uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company.”

Sources: Source 1

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