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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 level euro palace casino no deposit of $580 million, the two parties announced in a Tuesday declaration.

Z Capital Partners is famous to end up being the private equity administration unit of alternative investment manager Z Capital Group. Z Capital and its own affiliates currently have a 41% stake in Affinity Gaming. After the announcement that is latest, it’s going to choose the operator’s remaining outstanding stocks at a high price of $17.35 per share. Z Capital said on Tuesday it will pay in cash and it was awarded a $465-million financial obligation financing commitment from people Bank, N.A. with the objective.

After finding a non-binding proposition of $15 per share from Z Capital, a unique independent directors committee was created by Affinity Gaming aided by the intent behind examining the possible transaction in addition to bids off their interested events also 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 earlier this month. The special committee euro palace casino free spins fundamentally figured a purchase cope with Z Capital had been one that would gain Affinity Gaming and encouraged the Board to accept the proposal.

Commenting on the latest announcement, David Reganato, Chairman of Affinity Gaming’s Board and particularly appointed committee, said that the contract with Z Capital would bring significant value to investors and it was the result from the euro palace mobile casino no deposit bonus comprehensive consideration of Z Capital’s definitive offer. keep reading