Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based private equity supervisor 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 big red pokie online statement.
Z Capital Partners is famous to be the personal equity administration division of alternate investment manager Z Capital Group. Z Capital and its particular affiliates presently possess a 41% stake in Affinity Gaming. Following latest announcement, it’ll purchase the operator’s remaining outstanding stocks at a price 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 pay in cash and.
After getting a non-binding big red gold slot machine proposal of $15 per share from Z Capital, a particular separate directors committee was formed by Affinity Gaming utilizing the intent behind examining the potential transaction in addition to bids from other interested parties and 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 month. The special committee sooner or later concluded that an acquisition deal with Z Capital ended up being play big red slot online 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 especially appointed committee, stated that the agreement with Z Capital would bring significant value to investors and that it was the effect from the comprehensive consideration of Z Capital’s definitive offer. more “Z Capital Partners Buys Affinity Gaming for Big Red Pokies Download $580 Million”