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David Baazov abandons plans to buy Amaya Gaming, parent company of PokerStars

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Garfed   Malta. Dec 26 2016 21:16. Posts 4818

Another big decision in the poker world. Few months ago it all started with informations that David Baazov would be trying to purchase Amaya Gaming, and the official request went out in November to purchase the shares at C$24 per single share. Now it seems Baazov has backed out of talks with Amaya Gaming and will no longer be pursuing the acquisition of the company at all.

Baazov has stated that talks have ended with Amaya Gaming due to shareholders demanding a higher bonus for purchase, which he refused to pay. The deal presented by Baazov had a value of around $4.1 billion, but with the things like the debts and transactions costs accounted, the amount goes higher all the way to $6.7 billion.

After Baazov presented the deal, he had to announce that he would be seeking new funding for a portion of the offer based on KBC Aldini Capital denying their involvement in the deal. KBC was mentioned as one of the financial backers for Baazov along with Goldenway Capital, Head & Shoulders Global Investment Fund and Ferdyne Advisory. Reportedly, $3.65 billion of the deal would be financed by Baazov and his four investors.

With the backers gone it probably means that Baazov is completely done with the plans to completely overtake Amaya Gaming. Baazov is still the largest shareholder of the company at 17% stake with Amaya closing yesterday in Toronto with C19.38.

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shootair   United States. Dec 27 2016 04:19. Posts 430

Baazov 4 gov


austrian oak   Belgium. Dec 27 2016 13:12. Posts 520

Look at those shady smiles

Valor pleases you, Crom... so grant me one request. Grant me revenge! And if you do not listen, then to HELL with you! 

Spitfiree   Bulgaria. Dec 28 2016 00:20. Posts 9634

yeah but only the one on the right goes down on his knees after the picture.


shootair   United States. Dec 28 2016 23:14. Posts 430

Oh yea, Negreanu just makes it too obv that he is a heartless POS


 



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