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David Baazov file an offer to buy Amaya

David Baazov file an offer to buy Amaya

David Amaya Baazov wants to buy at a price of 24 dollars per share, announced yesterday the founder and former CEO of the firm in a statement .
Largest individual shareholder of the company based in Pointe-Claire, with a stake of over 17% (24,564,047 common shares, excluding options entitling it to acquire 387,500 additional common shares), the former leader had already made his intentions known in February . He had indicated to be ready to offer $ 21 per share of the company, but had never materialized its offer.
He then had to leave office in the spring after the AMF has brought against him and some of his associates of insider trading charges .
The offer of $ 24 per share represents a premium of approximately 30% over 18.34 dollars Amaya recorded at the close of markets Friday, tells the Press , which states that the transaction is valued at “more six billion including debt. ”

The proposal David Baazov is presented “on behalf of an entity to structure” of which he is the leader, the statement said. The former CEO says there also have “signed letters of binding participation agreement” with the company Head and Shoulders Global Investment Goldenway Capital and KBC Advisory Ferdyne Aldini Capital.
According to Baazov, ‘the transaction value is expected to be particularly attractive for shareholders given that no other feasible alternatives have been identified during the strategic review process nine months just ended at Amaya “reports The press .


“It is in the best interest of Amaya to become a private company in the current context of the online gaming industry. The burden of having disclosure requirements and the volatile nature of financial markets [him] interfere in the pursuit of its growth strategy. While she incurs substantial costs and is scrutinize the company derives no benefit to remain in exchange, “he added, according to the newspaper.

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“Given the challenges in the online gaming industry, the changing regulatory environment and risks associated with it, in addition to the uncertainty Amaya faces the legal level, the variable factor that is being traded, must be eliminated, and quickly, in the manner least disruptive if the company wants to have the flexibility to execute its strategy, “said David Baazov.