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 amount of $580 million, the two parties announced in a Tuesday declaration.
Z Capital Partners is known to be the private equity administration euro palace casino ipad division of alternate investment manager Z Capital Group. Z Capital and its particular affiliates presently own a 41% stake in Affinity Gaming. After the announcement that is latest, it will buy the operator’s remaining outstanding shares at a cost of $17.35 per share. Z Capital said on Tuesday that it will pay in money and it was granted a $465-million financial obligation financing commitment from Citizens Bank, N.A. with the objective.
After getting a non-binding proposition of $15 per share from Z Capital, a unique separate directors committee ended up being created by Affinity Gaming with all the reason for examining the possible transaction as well as bids off their interested events and to advice the gambling operator’s Board of Directors.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share earlier in the day this month. The unique committee ultimately concluded that an acquisition handle Z Capital had been one which would benefit Affinity Gaming and encouraged the Board to accept the proposition.
Commenting in the latest statement, David Reganato, Chairman of Affinity Gaming’s Board and particularly appointed committee, stated euro palace online casino login that the contract with Z Capital would bring significant value to shareholders and that it was the effect from a comprehensive consideration of Z Capital’s definitive offer. Continue reading “Z Capital Partners Buys Affinity Gaming for Euro Palace Casino No Deposit Bonus $580 Million”