Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based personal equity manager Z Capital Partners LLC will big red pokie free buy Nevada-headquartered casino operator Affinity Gaming for the approximate quantity of $580 million, big red pokie machines the two parties announced in a Tuesday declaration.
Z Capital Partners is known to be the equity that is private division of alternate investment manager Z Capital Group. Z Capital and its own affiliates presently own a 41% stake in Affinity Gaming. Following latest announcement, it’ll purchase the operator’s staying outstanding stocks at a high 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 getting a non-binding proposal of $15 per share from Z Capital, a special separate directors committee had been formed by Affinity Gaming because of the purpose of examining the prospective deal along with bids from other interested events also to advice the gambling big red pokie online operator’s Board of Directors.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share earlier 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, stated that the contract with Z Capital would bring significant value to shareholders and that it was the result from a comprehensive consideration of Z Capital’s definitive offer. Sigue leyendo Z Capital Ags Big Red Slot Machine Partners Buys Affinity Gaming for $580 Million