GameStop plans $150 million term loan for purchase of Micromania

By Sara Rosenberg

New York, Oct. 2 - GameStop Corp. has received a commitment for a $150 million term loan to help fund its acquisition of Micromania, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Bank of America is the lead bank on the deal.

Other financing for the acquisition will come from a draw on the company's revolving credit facility and cash on hand.

Under the agreement, GameStop is buying Micromania, France's leading video game retailer, from L Capital for about $700 million in cash, including the assumption of debt.

The transaction is expected to close in November, subject to clearance by European antitrust authorities.

GameStop is a Grapevine, Texas, video game and entertainment software retailer.

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