Amaya appoints financial advisor

Monday February 8,2016 :  AMAYA APPOINT FINANCIAL ADVISOR (Update)

In anticipation of acquisition bid from chief executive officer.

Amaya Inc’s special committee of board directors, established to deal with an expected acquisition bid from current chief executive officer and chairman David Baazov, has appointed Barclays Capital Canada Inc. to act as its exclusive financial advisor and Blake, Cassels & Graydon LLP as its legal advisor.

The announcement reveals that Baazov’s notification of the possibility of an all-cash offer may include participation from Amaya’s executive vice president, corporate development and general counsel along with three other unnamed employees.

Baazov, who has bandied about an amount of C$21 per common share, is expected to submit a formal proposal by the end of February 2016 subject to certain contingencies.