Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based personal equity manager Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate level of $580 million, the two parties announced in a Tuesday declaration.
Z Capital Partners is known to end up being the private equity administration unit of alternate investment manager Z Capital Group. Z Capital and its own affiliates currently possess a 41% stake in Affinity Gaming. After the latest announcement, it’ll buy the euro palace casino instant play operator’s remaining outstanding shares at a high price of $17.35 per share. Z Capital said on Tuesday so it can pay in cash and that it has been granted a $465-million financial obligation funding dedication from Citizens Bank, N.A. with the aim.
After getting a non-binding proposal of $15 per share from Z Capital, a special independent directors committee ended up being formed by Affinity Gaming because of the purpose of examining the possible deal along with bids off their interested events also to advice the gambling operator’s Board of Directors.
As revealed in yesterday’s statement, Z Capital increased its offer to $17.35 per share early in the day this thirty days. The special committee fundamentally figured a purchase handle Z Capital had been the one that would benefit Affinity Gaming and encouraged the Board to accept the proposition.
Commenting on the announcement that euro palace casino instant play is latest, David Reganato, Chairman euro palace casino login of Affinity Gaming’s Board and especially appointed committee, said that the contract with Z Capital would bring significant value to investors and that it was the end result from the comprehensive consideration of Z Capital’s definitive offer. 继续阅读“Z Capital Partners Euro Palace Casino Register Buys Affinity Gaming for $580 Million”