Groupe Bernard Tapie (GBT) only needs the approval of the US Department of Justice (DoJ) and Full Tilt Poker’s (FTP) shareholders to conclude its acquisition of FTP and its assets.

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GBT attorney Behnam Dayanim told poker reporters, “We have an oral agreement that is in the process of being reduced to writing and expect to resolve all outstanding issues.” FTP attorney Barry Boss said, “We have made significant progress towards a settlement but there are still issues to be resolved.”

According to a reliable source, GBT had made an oral agreement with the DoJ that it would pay a certain fee to the DoJ and in return the DoJ would settle its civil case against FTP and also refund FTP’s US poker players. However, the exact amount of this fee is yet to be determined.

If the agreement is signed, FTP’s US poker players will have to get their refund from the DoJ, which is believed to have seized player funds worth $115 millions from online payment processing companies associated with FTP.

Besides, two-thirds of FTP’s shareholders still have to approve the acquisition deal before it can be concluded. Most of these shareholders are professional poker players associated with the fallen online poker giant. The DoJ might also not free FTP’s new owners from liability toward FTP players and the US government.

In October, attorney Dayanim, who had begun negotiations with the US DoJ, stated the GBT is willing to refund FTP players from the rest of the world (ROW) in the form of shares in the newly acquired online poker gaming company.

According to the provisional agreement signed by GBT with FTP, the acquisition of a gambling license to provide online gaming services outside the US market is essential. It may be recalled that the Alderney Gambling Control Commission (AGCC) had revoked the gambling licenses it had issued to FTP, while simultaneously stating that the revocation does not wreck the company’s chances of obtaining another license in future.

According to the deal, the present owners of FTP can also continue holding shares in the newly acquired company, but only after the DoJ gives its approval, stated reliable sources.

Although the DoJ has not made any official statement so far regarding any agreement between it and the GBT, the online poker room and the French investment company have made certain public statements, confirming the closure of the acquisition deal in the near future.

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