Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based personal equity supervisor Z Capital Partners LLC will purchase Nevada-headquartered casino operator Affinity Gaming for the approximate quantity of $580 million https://casinopokies777.com/euro-palace-casino/, the two parties announced in a Tuesday statement.
Z Capital Partners is famous to be the private equity administration 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’s going to purchase the operator’s remaining outstanding stocks at a cost of $17.35 per share. Z Capital said on Tuesday so it has been granted a $465-million debt financing commitment from Citizens Bank, N.A. for the purpose that it will euro palace casino mobile download pay in cash and.
A special independent directors committee was formed by Affinity Gaming with the purpose of examining the potential transaction as well as bids from other interested parties and to advice the gambling operator euro palace casino download’s Board of Directors after receiving a non-binding proposal of $15 per share from Z Capital.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share earlier in the day this month. The committee that is special figured a purchase cope with Z Capital was the one that would gain Affinity Gaming and recommended the Board to approve the proposal.
Commenting regarding the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the agreement with Z Capital would bring significant value to investors and it was the end result from a comprehensive consideration of Z Capital’s definitive offer. Continue reading “Z Capital Partners Buys Affinity Gaming for Euro Palace Mobile Casino $580 Million”