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 quantity of $580 million, the two parties announced in a Tuesday statement.
Z Capital Partners is famous to function as private equity administration division of alternate investment manager Z Capital Group. Z Capital and its particular affiliates presently possess a 41% stake in Affinity Gaming. After the latest announcement, it’s going to choose the operator’s remaining outstanding stocks at a high price of $17.35 per share. Z Capital euro palace casino android said on Tuesday so it will probably pay in cash and casinopokies777.com it was awarded a $465-million debt funding commitment from Citizens Bank, N.A. with the aim.
After receiving a non-binding proposition of $15 per share from Z Capital, a unique separate directors committee had been formed by Affinity Gaming because of the purpose of examining the potential deal along with bids off their interested parties and also to advice the gambling operator euro palace casino test’s Board of Directors.
As revealed in yesterday’s statement, Z Capital increased its offer to $17.35 per share earlier this thirty days. The unique committee ultimately concluded that an acquisition deal with Z Capital was one that would gain Affinity Gaming and recommended the Board to accept the proposal.
Commenting regarding the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, said 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. Continuer la lecture