After announcing a bid to takeover Amaya Gaming, David Baazov was called out by an investment firm that he claimed was involved in financial backing for the deal. KBC Aldini Capital Limited announced they were not involved in the financial backing of Baazov’s bid and the former CEO of Amaya Gaming came out soon after their claim to state that the company was not involved. Late last week, Baazov filed an amendment to his SEC filing in regards to the Amaya Gaming bid which listed two of the four financial backers that were listed previously.
Now, the source for capital in the deal will be down to two firms based in Hong Kong. The bid is set at CA$24 per share for Amaya. The new filing shows Goldenway Capital SPC and Head and Shoulders Global Investment Fund SPC as the two firms involved in the financial backing of the bid. In the filing, it declares that the companies have entered into a binding equity commitment letter where the funds amount to $3.45 billion.
The new amount is actually $200 million less than the original filing. The two investment firms no longer associated in the filing are KBC Aldini Capital Limited and Ferdyne Advisory Inc. The amended filing says that the equity commitment letter purported to be delivered to the Acquiror for KBC was delivered with the knowledge of KBC or their consent. KBC had not committed to providing financing for the proposed acquisition of Amaya Gaming. The filing further stated that KBC is not one of the Equity Financing Sources for the Proposed Transaction. It has yet to be determined as to why Ferdyne Advisory Inc. is no longer associated with the deal.
It will be interesting to see how the deal fares now that only two financial backers exist instead of the original four. Amaya has not responded to the new SEC filing as of yet.
100% up to $3,000 Bonus
Bovada is our most recommended ONLINE CASINO and POKER ROOM for US players with excellent deposit options. Get your 100% signup bonus today.
Leave a Reply
You must be logged in to post a comment.