UK Poker Player Poker News Full Tilt Poker Sale to Groupe Bernard Tapie Moves Closer

Full Tilt Poker Sale to Groupe Bernard Tapie Moves Closer

Posted by Anthony on December 16, 2011 at 1:40 BST

Full Tilt PokerIt appears that the sale of beleaguered online poker website Full Tilt Poker to Groupe Bernard Tapie is almost a done deal after shareholders backed the poker room’s sale to the French investment company.

Full Tilt Poker’s assets are ready to be transferred to Groupe Bernard Tapie and the Full Tilt shareholders provided the proposed deal with a healthy majority at a recent vote, meaning at least the required – and expected – two-thirds of voters backed the poker room’s sale to Groupe Bernard Tapie.

Solicitors for Full Tilt Poker and Groupe Bernard Tapie were contacted by PokerNews for a reaction to the reports – and possibly even some clarification or confirmation – but understandably refused to make any comments.

However, the deal is not completely sealed yet as the assets of Full Tilt Poker must now be given up to the US Department of Justice (DoJ), before Groupe Bernard Tapie can then purchase those assets from the government department.

This latest development arrives shortly after Groupe Bernard Tapie and the DoJ reached an agreement to allow the investment firm to buy the seized assets of Full Tilt Poker from the government body for a reported $80 million.

The agreement emphasises that Groupe Bernard Tapie must reimburse non-States players, who it seems are due a projected $150 million from frozen accounts after Full Tilt Poker were among several online poker sites – including PokerStars and Absolute Poker – to be shut down on Black Friday as the DoJ indicted the sites’ owners.

A reported additional $150 million would be repaid to United States players by the DoJ.