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PartyGaming: New owner of World Poker Tour
After multiple bounces concerning the transfer of the assets of the World Poker Tour (WPT), its new owner is finally known. The members of the management committee of the World Poker Tour finally gave their agreement to yield the company to Peerless Media which is a subsidiary company of PartyGaming. It is thus PartyGaming which gained the choice of the shareholders even if this one proposed a sum three times lower than the offer of Mandalay Media. After the final vote, deducted by independent inspectors appointed for the election, 13,996,639 shares of the WPTE, approximately 67,93% of the capital were represented at the time of the vote and the agreement was approved by 85,28% from the shares present and 57,93% of the total capital.
The proposal of 36.5 millions dollars made by Mandalay Media lately was considered like not being a “higher proposal” thus, for this fact was not submitted to the vote. If all occurs well, the transfer of the famous American poker circuit to the group Party Gaming should be buckled before December. The saga of the sale of the World Poker Tour had thus lasted three months in all during which the company was the subject of three consecutive offers. After the officialization of the sale of the World Poker Tour, the question which interest everyone is: “how will be the future of the various agreements concluded before between the World Poker Tour and the companies competitors of the new purchaser ? ». Some of them still hold all the rights of diffusion of the WPT in many countries.
Source: Poker 777
Friday, 06 November 2009
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