Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based equity that is private Z Capital Partners LLC will purchase Nevada-headquartered casino operator Affinity Gaming for the approximate amount of $580 million, the two events announced in a Tuesday declaration.
Z Capital Partners is known to be the private equity big red free slot management division of alternative investment manager Z Capital Group. Z Capital and its particular affiliates currently own a 41% stake in Affinity Gaming. Following a latest statement, it's going to buy the operator's remaining outstanding stocks at a price of $17.35 per share. Z Capital said big red slot machine big win on Tuesday so 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 receiving a non-binding proposition of $15 per share from Z Capital, a unique independent directors committee was formed by Affinity Gaming utilizing the reason for examining the possible transaction in addition to bids from other interested events and 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 month. The special committee fundamentally concluded that a purchase deal big red gold pokie with Z Capital was one which 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 specially appointed committee, stated that the agreement with Z Capital would bring significant value to investors and it was the result from the comprehensive consideration of Z Capital's definitive offer.Leggi ancora