Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based private equity supervisor Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate level of $580 million, the two events announced in a Tuesday declaration.
Z Capital Partners is famous to function as the equity that is private division of alternative investment manager Z Capital Group. Z Capital and its own affiliates presently have a 41% stake in Affinity Gaming. Following the announcement that is latest, it’s going to purchase the operator’s staying outstanding stocks at a price of $17.35 per share. Z Capital said on Tuesday so it can pay in money and it has been awarded a $465-million financial obligation funding commitment from people Bank, N.A. with the aim.
After receiving euro palace casino live chat a non-binding proposal of $15 per share from euro palace casino no deposit bonus codes Z Capital, a unique independent directors committee had been formed by Affinity Gaming with the purpose of examining the prospective transaction along with bids from other interested parties and also to guidance the gambling operator’s Board of Directors.
As revealed in yesterday’s statement, Z Capital increased its offer to $17.35 per share previously this thirty days. The committee that is special figured an acquisition deal with Z Capital ended up being one that would gain Affinity Gaming and recommended the Board to accept the proposal.
Commenting in the latest statement, David Reganato, Chairman of Affinity Gaming’s Board and particularly appointed committee, said that the contract with Z Capital would bring significant value to investors and that it was the result from the comprehensive consideration of Z Capital’s definitive offer.read more