International edition
November 19, 2017 | Edition Nº3368

US-listed shares fell about 3% Tuesday

Baazov ends talks to buy Amaya

Baazov ends talks to buy Amaya
Amaya Inc's founder David Baazov said on Tuesday he had ended talks to buy the Canadian online gambling company because some shareholders were demanding a higher premium.
Canada | 12/21/2016

Amaya Inc's founder David Baazov said on Tuesday he had ended talks to buy the Canadian online gambling company because some shareholders were demanding a higher premium.

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maya's U.S.-listed shares fell about 3 percent to $14 in premarket trading on Tuesday.

Baazov, Amaya's former chief executive, offered to buy the company in mid-November in a deal valued at about $4.1 billion. Including debt and transaction costs, the deal was for $6.7 billion.

Baazov in late November said he would seek new funding for the portion of the offer he was financing along with a consortium of investors after KBC Aldini Capital denied its involvement in the deal.

KBC was one of four investors named by Baazov as his backers. The others were the Head & Shoulders Global Investment Fund, Hong Kong-based Goldenway Capital and Ferdyne Advisory, which is registered in the British Virgin Islands.

Baazov and the four funds were to have financed $3.65 billion of the deal.

Amaya, which owns gambling websites PokerStars and Full Tilt, said in February it had received a non-binding proposal from Baazov to take the company private for C$21 per share ($15.66). Baazov, who owns 17 percent of Amaya, increased his offer to C24 per share in November.

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