Infogrames Entertainment announced that it has cut its debt by approximately 100 million euros (or 25 percent of its outstanding debt), after buying back over 2 million shares of its convertible bonds.
The value of Infogrames' convertible bonds now stands at 311.8 million euros.
The company said it had also sold eight million of its own shares to U.S. investment fund General Atlantic Partners in exchange for $50 million worth of convertible bonds issued by its U.S. division (Infogrames Inc.) and $50 million in cash.
