Investor Hopes to Aid Infogrames Turnaround

Investor Hopes to Aid Infogrames Turnaround

Infogrames investor BlueBay Value Recovery Fund says its holdings in the game maker have risen above 20 percent, as the investor intends to help turnaround the troubled publisher.

BlueBay now owns 22.5 percent of Lyon, France-based Infogrames’ company shares, and 22.43 percent of its voting rights.

BlueBay’s holdings increased after it exercised 50 million stock warrants.

The investor said that it doesn’t intend to “gain control” of Atari parent Infogrames, rather to “help the company’s turnaround” by holding seats on Infogrames’ board of directors.

BlueBay noted that it may increase or decrease its holdings based on market conditions. Currently it holds 288,627,392 shares, according to an official Infogrames statement issued late last week.