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

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 amount of $580 million, the two parties announced in a Tuesday statement.

Z Capital Partners is known to end up being the equity that euro palace casino group is private unit of alternate investment manager Z Capital Group. Z Capital and its own affiliates currently own a 41% stake in Affinity Gaming. Following announcement that is latest, it’s going to buy the operator’s staying outstanding stocks at a price of $17.35 per share. Z Capital said on Tuesday that it will pay in money and that it is awarded a $465-million debt funding dedication from people Bank, N.A. with the objective.

A special independent directors committee was formed 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 earlier in the day this thirty days. The committee that is special concluded that a purchase handle Z Capital ended up being one which would gain Affinity Gaming and encouraged the Board to accept the proposition.

Commenting regarding euro palace casino terms and conditions the announcement that is latest, David Reganato, Chairman of Affinity Gaming’s Board and especially appointed committee, stated that the contract with Z Capital would bring significant value to shareholders and it was the effect from a comprehensive consideration of Z Capital’s definitive offer. Read more »

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