Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based private equity supervisor Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate quantity of $580 million, the two parties announced in a Tuesday declaration.
Z Capital Partners is famous to end up being the private equity administration unit of alternate investment manager Z Capital Group. Z Capital and its particular affiliates currently possess a 41% stake in Affinity Gaming. Following latest announcement, it’s going to buy the operator’s remaining outstanding stocks at a high price of $17.35 per share. Z Capital euro palace online casino login said on Tuesday so 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.
After getting a non-binding proposition of $15 per share from Z Capital, a special independent directors committee ended up being created by Affinity Gaming using the purpose of examining the potential deal as well as bids from other interested parties also to guidance the gambling operator’s Board of Directors.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share earlier this thirty days. The special committee ultimately concluded that a purchase cope with Z Capital was the one that would benefit 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 contract with Z Capital would bring euro palace mobile casino no deposit bonus significant value to investors and that it was the effect from a comprehensive consideration of Z Capital’s definitive offer. “Z Capital Euro Palace Casino No Deposit Bonus Codes Partners Buys Affinity Gaming for $580 Million” の続きを読む