Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based private equity manager Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate number of $580 million euro palace casino live chat, the two parties announced in a Tuesday declaration.
Z Capital Partners is famous to function as the personal equity administration unit of alternative investment manager Z Capital Group. Z Capital as well as its affiliates currently possess a 41% stake in Affinity Gaming. Following a announcement that is latest, it’ll buy the operator’s staying outstanding stocks at a price of $17.35 per share. Z Capital said on Tuesday it has been granted a $465-million debt financing commitment from Citizens Bank, N.A. for the purpose that it will pay in cash and.
A special independent directors committee was formed by Affinity Gaming with the purpose of examining the potential transaction as well as bids from other interested parties and to advice the gambling operator’s Board of Directors after receiving a non-binding proposal of $15 per share from Z Capital.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share earlier this thirty days. The committee that is special concluded that a purchase cope with Z Capital ended up being the one that would benefit Affinity Gaming and suggested euro palace casino test the Board to accept the proposal.
Commenting on the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and especially appointed committee, stated that the agreement with Z Capital would bring significant value to investors and it was the effect from the comprehensive consideration of Z Capital’s definitive offer. Pokračování textu Z Capital Partners Buys Affinity Gaming for Euro Palace Flash Casino $580 Million