Full Tilt Owners Ratify GBT Deal
The acquisition of Full Tilt assets by Group Benard Tapie (GBT) has moved another step closer to completion.
According to a report on Subject: Poker, a majority vote has been reached by Full Tilt shareholders to voluntarily forfeit the assets to the DOJ, following which the DOJ will sell those assets on to Groupe Bernard Tapie.
The current owners will have the option to purchase shares in the new company. However, they will have no voting rights in the new company. FTP board members are excluded from this option.
Along with the forfeiture of assets, the DOJ has agreed to dismiss the civil charges against the company. There is no indication that the DOJ plans to drop the individual charges.
Laurent Tapie is in Dublin and has visited FTP headquarters to address the employees that have been retained in anticipation of the company resuming operations.