Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based private equity manager Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate quantity of $580 million, the two events announced in a Tuesday statement.
Z Capital Partners is famous to function as personal equity management division of alternate investment manager Z Capital Group. Z Capital and its own affiliates presently have a 41% stake in Affinity Gaming. After the announcement that is latest, it will choose the operator’s remaining outstanding euro palace casino promotion code stocks at a price of $17.35 per share. Z Capital said on Tuesday that 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 separate directors committee ended up being created by Affinity Gaming because of the purpose of examining the prospective 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 sooner or later figured a purchase handle Z Capital had been the one that would gain Affinity Gaming and suggested the Board to accept the proposition.
Commenting on the euro palace casino bewertung latest statement, David Reganato, Chairman of Affinity Gaming’s Board and specially appointed committee, stated that the contract with Z Capital would bring significant value to investors and it was the result from a comprehensive consideration of Z Capital’s definitive offer. Saiba Mais