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David Baazov, the founder and former CEO of Amaya Inc., has resigned but the company gave no specific reason for the departure. (Christinne Muschi/Reuters)
David Baazov, the founder and former CEO of Amaya Inc., has resigned but the company gave no specific reason for the departure. (Christinne Muschi/Reuters)

Baazov confirms Dubai firm KBC not involved in Amaya bid Add to ...

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Amaya Inc.’s former chief executive confirmed Wednesday that he does not have the backing of a Dubai-based investment firm in his proposed takeover of the Canadian online gambling company, raising further doubts about the multibillion-dollar privatization.

David Baazov, who is spearheading the bid for Amaya, said in a statement that a document outlining KBC Aldini Capital Ltd.’s financial support of the deal was sent without the Dubai firm’s consent. On Tuesday, the Globe and Mail reported that KBC’s top executive had denied any involvement in the deal, saying he had “no knowledge” whatsoever of the transaction and had never even heard of Amaya. Last week, regulatory filings from Mr. Baazov had named KBC as one of four international funds due to commit a combined $3.6-billion. Despite Wednesday’s revelation, Mr. Baazov says he is pressing on with his plan to take Amaya private and plans to line up “replacement financing.”

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