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 quantity of $580 million, the two events announced in a Tuesday declaration.
Z Capital Partners is famous to function as the equity that is private division of alternative investment manager Z Capital Group. Z Capital and its own big red slot game affiliates presently possess a 41% stake in Affinity Gaming. Following a announcement that is latest, it’ll choose the operator’s remaining outstanding stocks at a high price of $17.35 per share. Z Capital said on Tuesday it can pay in money and it was provided a $465-million debt funding commitment from people Bank, N.A. for the purpose.
After finding a non-binding proposition of $15 per share from Z Capital, a special separate directors committee was created by Affinity Gaming utilizing the reason for big red pokies examining the possible transaction in addition to bids from other interested parties and also to guidance the gambling operator’s Board of Directors.
As revealed in yesterday’s declaration, Z Capital increased its playpokiesfree.com offer to $17.35 per share earlier this month. The unique committee ultimately concluded that an acquisition deal with Z Capital ended up being the one that would benefit Affinity Gaming and suggested the Board to approve the proposal.
Commenting in the latest statement, David Reganato, Chairman of Affinity Gaming’s Board and specifically appointed committee, stated that the agreement with Z Capital would bring significant value to shareholders and that it was the end result from a comprehensive consideration of Z Capital big red free pokies’s definitive offer. Continue reading “Z Capital Partners Buys Affinity Gaming Big Red Free Slot for $580 Million”