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Full Tilt Signs Acquisition Agreement

Rumours surfaced last week of reports of negotiations with French investors, who may be linked with the Tapie family. Laurent Tapie is the son of Bernard Tapie, the former owner of Olympique Marseille and Adidas.

Full Tilt released the following statement via PokerStrategy today:

“Dublin, Ireland (September 30, 2011) Laurent Tapie, Managing Director of ‘Groupe Bernard Tapie’ announced today that the group has signed an exclusive agreement with the Board of Directors of Full Tilt Poker to acquire the company and all of its associated assets.

This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.

‘Groupe Bernard Tapie’ has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability, the most well-known being the sport equipment giant, Adidas.”

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