Z Capital Partners Buys Affinity Gaming for $580 Million
New York-based personal equity manager Z Capital Partners LLC will purchase Nevada-headquartered casino operator Affinity Gaming for the approximate amount big red pokie tips of $580 million, the two parties announced in a Tuesday declaration.
Z Capital Partners is known to end up being the equity that is private unit of alternative investment manager Z Capital Group. Z Capital and its particular affiliates currently have a 41% stake in Affinity Gaming. Following latest statement, it will choose the operator’s remaining outstanding shares at a high price of $17.35 per share. Z Capital said on Tuesday big red 2 pokie machine so it will pay in money and so it is given a $465-million debt funding commitment from Citizens Bank, N.A. for the purpose.
After getting a non-binding proposal of $15 per share from Z Capital, a special independent directors committee ended up being formed by Affinity Gaming because of the reason for examining the possible deal in addition to bids from other interested events and to advice 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 thirty days. The committee that is special concluded that a purchase handle Z Capital big red pokie machine software was one which would gain Affinity Gaming and encouraged the Board to accept the proposal.
Commenting regarding the latest announcement, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the contract with Z Capital would bring significant value to shareholders and it was the effect from a comprehensive consideration of Z Capital’s definitive offer. Z Capital Partners Buys Affinity Gaming Big Red Slot Machine Rules for $580 Million weiterlesen