Baazov commits to Amaya takeover bid despite backer put-down

baazov
David Baazov

David Baazov has confirmed that he is still committed to his planned CAD $6.7 billion takeover of Toronto TSX-listed Amaya Inc, despite this week’s news that perceived Dubai-based backer KBC Aldini Capital had ‘no involvement whatsoever’ with Baazov’s acquisition.

Publishing a statement, Baazov representatives detailed that the former Amaya CEO had received an ‘equity commitment letter’ purporting to be from KBC Aldini.

Updating stakeholders Baazov representatives claim that the letter was sent without the final consent of KBC Aldini governance, thus causing the misunderstanding with the Dubai-based private equity firm.

Baazov stated that he would stick by his official CAD $24 per share (30% premium) for Amaya assets, and that he would seek a replacement backer for KBC Aldini, one of four PE firms reported by Baazov official filing to be backing his takeover approach.

This week, KBC Aldini governance made a formal complaint made by KBC Aldini with the US Exchange Commission alleging that Baazov lied in his SEC filing for Amaya assets.

Amaya governance has issued a short corporate statement, detailing that “it is aware” of the report and news relating to Baazov’s approach, the company will “continue to carefully assess Mr Baazov’s proposal” but has no further comment at this time”, detailed Amaya governance.

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