Baazov offloads further shares in Amaya

David Baazov, the founder and former chief executive of Amaya, has sold approximately 12 million shares in the company for a total of C$267.7 million (€188.3 million/US$200.9 million).

Baazov received an average of C$22.31 per share and the sale represents around two-thirds of his stake in the firm, reducing his overall holding to 3.8%.

The move comes after Baazov last month sold seven million shares in Amaya for C$133 million, which had lowered his stake in the company to around 12.1%.

Late last year, Baazov launched a bid to purchase Amaya, the parent company of PokerStars, in a deal valued at approximately US$4.1 billion, but later withdrew the offer.

Baazov served as chief executive until March of last year, when he stepped down after being charged with a number of counts of illegal insider trading.

Autorité des marchés financiers, the securities regulator in Quebec, said the charges included stock manipulation in connection with Amaya's $4.9 billion acquisition of PokerStars owner Rational Group.

Related articles:

Baazov sells C$133m in Amaya shares

Baazov withdraws Amaya bid