Blackstone to help fund Amaya's $4.9 bln buy of Rational Group
Amaya Gaming Group Inc (TSX: AYA) has agreed to buy the parent of Rational Group Ltd for US$4.9 billion. Based on the Isle of Man, Rational Group is the owner and operator of online poker platforms PokerStars and Full Tilt Poker. The Montréal-based Amaya said the deal will make it the world's largest publicly traded online gaming provider. The acquisition will be funded through cash, debt and private placements. GSO Capital Partners, the credit division of U.S. private equity firm The Blackstone Group, will subscribe for US$600 million in convertible preferred shares, and purchase US$55 million of common shares in the business upon the deal's closing, which is expected before Sept. 30.
16 June 2014•10 mins read
