Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based equity that is private Z Capital Partners LLC will purchase Nevada-headquartered casino operator Affinity Gaming for the approximate quantity of $580 million, the two events announced in a Tuesday declaration.
Z Capital Partners casinopokies777.com is known to be the private equity administration unit of alternative investment manager Z Capital Group. Z Capital and its particular affiliates currently possess a 41% stake in Affinity Gaming. After the announcement that is latest, it will purchase the operator’s staying outstanding stocks at a high price of $17.35 per share. Z Capital said on Tuesday that it will pay in cash and so it is awarded a $465-million euro palace casino auszahlung financial obligation financing dedication from Citizens Bank, N.A. with the aim.
After finding a non-binding proposal of $15 per share from Z Capital, a special independent directors committee was created by Affinity Gaming using the intent behind examining the prospective transaction as well as bids off their interested events and to guidance the gambling euro palace casino download operator’s Board of Directors.
As revealed in yesterday’s statement, Z Capital increased its offer to $17.35 per share earlier this month. The unique committee ultimately figured an acquisition handle Z Capital ended up being the one that would gain Affinity Gaming and advised the Board to approve the proposal.
Commenting regarding the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and especially appointed committee, said that the agreement with Z Capital would bring significant value to investors and that it was the result from the comprehensive consideration of Z Capital’s definitive offer. (more…)