On Friday, Full Tilt Poker announced on PokerStrategy.com that an acquisition agreement was signed with the Bernard Tapie Group. This comes just one day after the Alderney Gambling Control Commission revoked Full Tilt Poker's license.
The announcement was made by Laurent Tapie, managing director of the Bernard Tapie Group.
Laurent Tapie is the son of Bernard Tapie, a French businessman and politician. Bernard Tapie is credited with rebuilding a number of bankrupt companies and making them profitable — his most famous is Adidas, which he owned from 1990 to 1993. He also owned a cycling team that won the Tour de France twice and a soccer club that won the French Championship five times in a row, as well as the Champions League in 1993. Bernard Tapie's record isn't only littered with wins however, in 1993, he was accused of fixing a match between his soccer club and another, for which he served a seven-month prison sentence. Tapie was also convicted of tax fraud and was sued by his banker for repayment of a $240 million loan.
Reprinted below is the press release in full:
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 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.
