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Amaya Gaming Group Inc agrees to acquire rational group, owner of PokerStars and Full Tilt Poker, for $4.9 bln

Thursday, 12 Jun 2014 09:24pm EDT 

Amaya Gaming Group Inc and Oldford Group Limited:Says that the company and privately held Oldford Group Limited , the parent company of Rational Group Ltd, a company in poker business and owner and operator of PokerStars and Full Tilt Poker brands.Enters into definitive agreement for the company to acquire 100 pct. of issued and outstanding shares of Oldford Group in an all-cash transaction for an aggregate purchase price of $4.9 bln, including certain deferred payments and subject to certain other customary adjustments.Under terms of transaction, Oldford Group shareholders led by Mark Scheinberg, founder and chief executive officer, will dispose of their shares to wholly owned subsidiary of Amaya.Scheinberg and other principals of OIdford Group will resign from all positions with Oldford Group and its subsidiaries on completion of transaction.Boards of directors of both Amaya and Oldford Group unanimously approved agreement. 

Company Quote

1.38 +4.82%
4:00pm EST