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 unit of alternative investment manager Z Capital Group. Z Capital as well as its affiliates currently possess a 41% stake in Affinity Gaming. Following the announcement that is latest, it’ll choose the operator’s remaining outstanding shares 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 finding a non-binding proposal of $15 per euro palace casino live chat share from Z Capital, a particular independent directors committee had been created by Affinity Gaming utilizing the intent behind euro palace casino android examining the prospective deal as well as bids from other interested events and 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 earlier this month. The committee that is special figured an acquisition cope with Z Capital was the one that would gain Affinity Gaming and suggested the Board to accept the proposal.
Commenting regarding the latest announcement, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the contract with Z Capital would bring significant value to shareholders and it was the effect from a comprehensive consideration of Z Capital’s definitive offer. Continuar leyendo