Baazov has been in the news recently with the bid that he placed when Amaya was placed on the market for privatization.
His investor company denied the claims which led to a lot of controversy as well. Baazov has now announced his alternative funder who has been secured for funding the bid of $6.7 billion that Baazov has placed on Amaya. This is his bid in order to have a stake in the privatization of the company. Being a founder of Amaya Inc, there was much controversy created when rumors arose about his bid to purchase shares of the company going in for privatization. His investor firm KBC Aldini Capital is a Dubai investor firm denied being involved in the bid. This again added more fire to the rumors.
Baazov’s bid for purchase of shares of Amaya Inc has involvement of two of his Hong Kong funds as well. Currently Baazov has the largest shareholding in the company, Amaya Gaming Inc which is the parent company for the successful online venture of PokerStars.
At the time when the bid for purchase was made a filing was submitted to the US Securities and Exchange Commission, which also placed KBC as being the founder in equity for the bid. The investment firm, however, filed a complaint with the Securities Exchange commission, denying their involvement in the bid. Bloomberg reports reveal that Baazov received a commitment of equity letters from funders like Golden way Capital SPC as well as Head and Shoulders Global Investment Fund SPC. Baazov has now clarified that KBC was not involved in the funding. The privatization bid for the company is ongoing and more updates are expected to come in as the bids’ progress. Baazov is in the highlight now and it remains to be seen how the privatization bid pans out and where he remains by the end of the efforts and after the bidding process is finalized.