Full Tilt Poker and Groupe Bernard Tapie have finalized an agreement to transfer Full Tilt's assets to the Tapie group. The agreement will clear the way for the investors to take over the company.
Full Tilt Poker and Groupe Bernard Tapie have executed an agreement to transfer Full Tilt's assets to the investment group, according to the Subject: Poker blog
The agreement is the first step in the takeover process, and allows for the U.S. Department of Justice to take possession of Full Tilt's assets in return for dismissing all civil complaints against the company.
Groupe Bernard Tapie will then finalize the sale by taking over the forfeited assets in a deal with the DoJ worth $80 million.
The deal also makes the Department of Justice responsible for paying back U.S. players, while Groupe Bernard Tapie would be in charge of players in the rest of the world.
Subject: Poker is citing "multiple sources" for saying that the Full Tilt ownership voted on the agreement to hand over the assets, and that the majority of the owners affirmed the move.
Anonymous sources also claim that Laurent Tapie was in Dublin today, where he personally spoke to employees about the takeover process.
Poker.org will follow the case as it develops.