Z Capital Partners Buys Affinity Gaming for $580 Million

New York-based private equity supervisor Z Capital Partners LLC will purchase Nevada-headquartered casino operator Affinity Gaming for the approximate level of $580 million, the two parties announced in a Tuesday statement.

Z Capital Partners is known to function as the personal equity administration division of alternate investment manager Z Capital Group. Z Capital and its own affiliates currently possess a 41% stake in Affinity Gaming. After the announcement that is latest, it’s going to choose the operator’s staying outstanding shares at a high win palace euro casino price of $17.35 per share. Z Capital said on Tuesday so 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.

A special independent directors committee was formed euro palace mobile casino no deposit bonus by Affinity Gaming with the purpose of examining the potential transaction as well as bids from other interested parties and to advice the gambling operator’s Board of Directors after receiving a non-binding proposal of $15 per share from Z Capital.

As revealed in yesterday’s statement, Z Capital increased its offer to $17.35 per share early in the day this thirty days. The special committee fundamentally concluded that a purchase cope with Z Capital had been the one that would benefit Affinity Gaming and advised the Board to approve the proposal.

Commenting on the latest announcement, David Reganato, Chairman of Affinity Gaming’s Board and specially appointed committee, stated that the agreement with Z Capital would bring significant value to shareholders and that it was the end result from the comprehensive consideration of Z Capital’s definitive offer. Read More