Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based personal equity supervisor Z Capital Partners LLC will purchase 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 known win palace euro french casino to function as the equity that is private division of alternative investment manager Z Capital Group. Z Capital and its particular affiliates currently own a 41% stake in Affinity Gaming. Following a announcement that is latest, it’ll purchase the operator’s remaining outstanding stocks at a cost of $17.35 per share. Z Capital said on Tuesday that 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 euro palace casino ipad 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 statement, Z Capital increased its offer to $17.35 per share early in the day this thirty days. The committee that is special figured an acquisition cope with Z Capital was one that would gain Affinity Gaming and recommended the Board to approve the proposition.
Commenting regarding the latest announcement, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the contract with Z Capital would bring significant value to shareholders and that it was the end result from the comprehensive consideration of Z Capital’s definitive offer euro palace casino ligne. Z Capital Partners Buys Affinity Gaming for $580 Million Euro Palace Casino Germany weiterlesen