David Baazov insists on acquiring Amaya

The former chief executive officer of Amaya presented a proposal to buy the poker company.

Canada.- Whilst Amaya is considering the financial project introduced a few weeks ago by the former chief executive officer of the Canadian company, David Baazov, the businessman recruited the economic backing of Hong Kong investors to carry out the plan. Baazov proposed the poker operator, owner of PokerStars and Full Tilt Poker, to buy the company for US$2.56 billion.

The former CEO of Amaya filed a document to the U.S. Securities and Exchange Commission last Friday, revealing that the Hong Kong funds Head and Shoulders Global Investment Fund SPC and Goldenway Capital SPC would back the acquisition project with US$3.45 billion. Baazov confirmed he has “binding equity commitment letters” from both companies.

Head and Shoulders Global Investment Fund SPC and Goldenway Capital SPC would finance Baazov bid to acquire the Canadian poker company for C$24 a share. “We continue to support David Baazov,” revealed Stanley Choi, chairman of Head and Shoulders Financial Group. The former CEO already owns 17 percent of the Amaya stake.