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Amaya founder Baazov reduces his stake with $133m share sale

8th March 2017 8:45 am GMT

Amaya founder and former CEO David Baazov has sold seven million shares in the Toronto-listed business for CAD$133m, days after measures where put in place to discourage him from acquiring control.

The shares sold by Baazov at CAD$19 each represent 4.8 per cent of Amaya's issued and outstanding common shares, leaving him with approximately 17.6m shares or a 12.1 per cent holding in the company.

The sale comes days after the PokerStars owner restructured its first lien loan terms, adding an amendment [...]

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