Full Tilt Poker in Exclusive Talks with Groupe Bernard Tapie

Full Tilt Poker is in exclusive negotiations with Groupe Bernard Tapie for acquisition. Groupe Bernard Tapie, led by Laurent Tapie, has signed an exclusive agreement with FullTilt's board to acquire the company and its assets. The agreement includes full repayment of debts to FullTilt players worldwide, contingent on resolving issues with the U.S. Department of Justice.

Groupe Bernard Tapie has a history of turning around financially troubled companies, including Adidas. The group has over 30 years of experience in rescuing companies from financial distress, having successfully revitalized more than 40 companies. Notably, Bernard Tapie's management of Adidas in the late 1980s and early 1990s is a testament to his expertise in crisis management.

Laurent Tapie, son of Bernard Tapie, is the director of Partouche Interactive, which recently launched online poker in France. Laurent Tapie confirmed the acquisition agreement and expressed optimism about FullTilt's prospects, stating that the group has the necessary funds to cover player debts and is exploring options to minimize their own financial burden. He also mentioned the possibility of returning a significant portion of the $331 million confiscated by the U.S. Department of Justice to the players.