Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based equity that is private Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate level of $580 million, the two parties announced in a Tuesday declaration.
Z Capital Partners is famous to end up being the equity that is private unit of alternative investment manager Z Capital Group. Z Capital and its affiliates presently own a 41% stake in Affinity Gaming. Following latest statement, it’s going to buy the operator’s staying outstanding shares at a price of $17.35 per share. Z Capital said on Tuesday so it will pay in cash and that it is provided a $465-million debt financing commitment from people Bank, N.A. with the objective.
A special independent directors committee was formed by Affinity euro palace casino no deposit bonus 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 previously this month. The special committee ultimately figured an acquisition cope euro palace flash casino with Z Capital ended up being one which would gain Affinity Gaming and suggested the Board to accept the proposal.
Commenting on the announcement that is latest, David Reganato, casinopokies777.com Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the agreement with Z Capital would bring significant value to shareholders and that it was the effect from a comprehensive consideration of Z Capital’s definitive offer. Continuer la lecture de Z Capital Euro Palace Casino Claim Bonus Partners Buys Affinity Gaming for $580 Million