http://www.gamekyo.com/newsfr46962_sega-europe-devrait-annoncer-sa-fermeture.html
Basically, in English this is what it says:
On the eve of E3 2012, we are able to learn, according to our sources deemed credible, that Sega Europe should close down in the coming months and all local branches in Europe as Sega France. This is partly a consequence of the ineffectiveness of the strategy Sega for several years is to develop games by Western developers. In the aftermath, Sega should also announce, according to these sources, not to develop AAA games on consoles, but to focus on games and mobile phones dematerialized particular tablet. The last headline Sega developed by Creative Assembly will be presented at the 2012 E3 in a few days. For information, remind that Sega has announced that it will not be at GamesCom 2012.