New York-based personal equity supervisor Z Capital Partners LLC will buy Nevada-headquartered casino operator Affinity Gaming for the approximate euro palace casino contact number number of $580 million, the two parties announced in a Tuesday statement.
Z Capital Partners is famous to be the equity that is private division of alternative 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'll purchase the operator's remaining outstanding stocks at a price of $17.35 per share. Z Capital said on Tuesday it will probably pay in money and it has been granted a $465-million debt funding commitment from Citizens Bank, N.A. for the purpose.
A special independent directors committee was formed by Affinity Gaming with the purpose of examining the potential transaction euro palace casino bewertung 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 declaration, Z Capital increased its offer to $17.35 per share earlier in the day this month. The committee that is special concluded that an acquisition cope with Z Capital was one that would benefit Affinity Gaming and advised the Board to approve the proposal.
Commenting in the latest statement, David Reganato, Chairman of Affinity Gaming's Board and especially appointed committee, said that the contract with Z Capital would bring significant value to investors and that it was the result from a comprehensive consideration of Z Capital's definitive offer.