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Z Capital Partners Buys Affinity Euro Palace Casino Germany Gaming for $580 Million

27 Nov

Z Capital Partners Buys Affinity Gaming for $580 Million

New York-based equity that is private Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate number of $580 million, the two events announced in a Tuesday declaration.

Z Capital Partners is known to function as the personal equity management unit of alternate investment manager Z Capital Group. Z Capital win palace euro french casino and its own affiliates presently possess a 41% stake in Affinity Gaming. Following the latest statement, it’s going to buy the operator’s staying outstanding shares at a cost of $17.35 per share. Z Capital said on Tuesday 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 unique separate directors committee ended up being created by Affinity Gaming because of the purpose of examining the prospective transaction as well as bids off their interested events and 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 early in the day this euro palace mobile casino no deposit bonus month. The special committee sooner or later concluded that an acquisition cope with Z Capital was one which would gain Affinity Gaming and recommended the Board to approve the proposition.

Commenting in the announcement that is latest, 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 end result from the comprehensive consideration euro palace online casino canada of Z Capital’s definitive offer. (more…)