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 amount of $580 million, the two events announced in a Tuesday declaration.
Z Capital Partners is famous to function as the private equity administration division of alternative investment manager Z Capital Group. Z Capital and its affiliates currently own a 41% stake in Affinity Gaming. Following a announcement that is latest, it’s going to buy the operator’s staying outstanding stocks at a high price euro palace casino ligne of $17.35 per share. Z Capital said on Tuesday so it will pay in cash and so it happens to be provided a $465-million debt funding dedication from Citizens Bank, N.A. with the objective.
A special independent directors committee was formed by Affinity Gaming with the purpose of examining the potential win palace euro casino 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 in the day this thirty days. The special committee eventually concluded that a purchase handle Z Capital had been one which would gain Affinity Gaming and suggested the Board to approve the proposition.
Commenting on the latest statement, David Reganato, Chairman of Affinity Gaming’s Board and specially appointed committee, said that the contract with Z Capital would bring significant value to shareholders and that it was the result from the comprehensive consideration of Z Capital’s definitive offer. “Z Capital Euro Palace Casino Withdrawal Partners Buys Affinity Gaming for $580 Million”の続きを読む