Full Tilt Agrees to Transfer Assets to Groupe Bernard Tapie

Out with the old...

According to Subject:Poker, Full Tilt Poker shareholders have agreed to transfer the company’s assets to Groupe Bernard Tapie.

Now that the asset transfer has been agreed upon, GBT can move ahead with its agreement with the U.S. Department of Justice. From here, Full Tilt assets (via the DoJ) are moved to GBT, and GBT gets one step closer to opening the virtual doors at Tilt again.

Of note, S:P reported:

Any current owners that are interested in receiving equity in the new company will be required to purchase minimal shares at an agreed-upon price. Such equity will always remain passive, with no managerial control, or voting privileges.

The catch here is not a lot of ownership is liquid enough to buy shares anyway, but it’s interesting the option remains open to do so.

Read more about the agreement here.

Read 3 Things This Deal Means for You on Insider here.

 

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