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GameStop to exit Spanish market


Grapevine, Texas – GameStop Corp. plans to exit the Spanish market by selling some stores there to U.K.-based video game retailer Game Digital plc, and closing the remaining locations. Under the terms of this proposed agreement, GameStop will transfer ownership of a portfolio of GameStop stores located in Spain with the remaining retail sites winding down in 2014.

GameStop will work closely with Game to ensure a smooth transition and continued support for all of GameStop’s customers in Spain.

“Our strategic decision to exit the Spanish market was not taken lightly,” said Michael Mauler, executive VP GameStop. “We are constantly evaluating our portfolio and regional focus to deliver maximum effectiveness and profitability. As it stands today, we believe other international markets better match our operating criteria and as such have decided to redeploy our resources in other areas with the greatest potential for return. With its existing presence in Spain, Game is the logical company to acquire our stores and this move will maximize job retention and ultimately ensure that the Spanish video game consumer will still have access to the best hardware and software they demand.”

The proposed deal will require Spanish Competition Authority approval, which is expected to be completed in October. Financial terms of the deal were not disclosed.

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