Bloomberg Business News has reported that Amaya Inc CEO David Baazov may look to partner with outside investors in order to fulfil his proposed management takeover of the firm.
At present Amaya Inc has appointed a special committee advised by Barclays Capital to review Baazov’s CAD $21 per common share cash offer. Issuing a corporate statement this week, Amaya’s board informed that no formal proposal had been submitted to its committee for an investor review.
Bloomberg notes that Amaya subsidiary PokerStars, the world’s leading online poker room remains an attractive asset to outside investors who may choose to back Baazov’s management takeover.
The news source further details that partnering with Baazov, may prove to be an attractive proposition for outside backers as Amaya Inc currently holds $2.6 billion in debt relating to its 2014 $4.9 billion acquisition of Rational Group assets.
London FTSE listed gambling technology provider Playtech Plc, is one of the firms reported by Bloomberg to be considering partnering with Baazov.
With + £500 million in cash reserves, the market expects Playtech governance to begin an aggressive acquisition spree, targeting high-level industry assets with the a view of strengthening the firm’s services and product portfolio.