Buyer Confirmed For Full Tilt Poker

In breaking news today, it was announced that the French investment group, Group Bernard Tapie, have officially signed an agreement for the acquisition of Full Tilt Poker and all of it’s assets. This will pave the way for the repayment of over $300 million worth of player funds that have been currently locked up on Full Tilt Poker, much to the delight of thousands of poker players around the world. The agreement is based upon the fulfilment of a number of criteria, including a favourable resolution with the US Department of Justice.

It is likely that the DOJ will be willing to co-operate, given that it released a statement yesterday saying that it would be making every effort over the next few months to secure all previous funds seized from Full Tilt bank accounts in-order to repay as many players as possible.

Here is the full statement released by PokerStrategy.com:

“Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement

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 FullTilt 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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