Another source of finance removed from offer
David Baazov's multi-billion dollar attempt to acquire the Amaya online gambling group continues to intrigue.
On Friday Baazov filed an amended advisory on his offer with the Securities and Exchange Commission confirming that financing from KBC Aldini Capital Limited originally included in his offer is not available, but added to speculation surrounding the deal by revealing that another potential funder — the mysterious Ferdyne Advisory Inc — is apparently also no longer involved.
Baazov has already assured the market that he is studying alternative funding arrangements for the deal, and he appears to continue to have the support of two Hong Kong SEC-registered entities in Head and Shoulders Global Investment Fund SPC — HS Special Event Segregated Portfolio, and Goldenway Capital SPC- Special Event SP.
In his filing, Baazov revealed that the two entities have entered into "binding equity commitment letters," with funds in the amount of $3.45 billion… short $200 million on the original filing.
The amended filing is accessible here:
Online Casino News Courtesy of Infopowa