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 number of $580 million, the two parties announced in a Tuesday statement.
Z Capital Partners is known to be the personal equity administration division of alternative investment manager Z Capital Group. Z Capital as well as its affiliates currently have a 41% stake in Affinity Gaming. Following the big red pokie machine rules latest announcement, it will buy the operator’s remaining outstanding shares at a price 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 finding a non-binding proposition of $15 per share from Z Capital, a special independent directors committee had been formed by Affinity Gaming using the purpose of examining the prospective transaction in addition to bids from other interested parties also to advice the gambling operator’s Board of Directors big red pokies free.
As revealed in yesterday’s declaration, Z Capital increased its offer to $17.35 per share previously this month. The committee that is special figured an acquisition deal with Z Capital was the one that would benefit Affinity Gaming and suggested the Board to accept the proposal.
Commenting regarding the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and particularly appointed committee, said 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 free big red pokie game. Continue reading “Z Capital Partners Buys Red Baron Slot Machine Big Win Affinity Gaming for $580 Million”