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

Z Capital Partners Buys Affinity Gaming for $580 Million

New York-based personal equity manager Z Capital Partners LLC will buy 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 end up being the private equity euro palace casino terms and conditions management unit of alternate investment manager Z Capital Group. Z Capital as well as its affiliates currently have a 41% stake in Affinity Gaming. After the latest statement, it will buy the operator’s remaining outstanding stocks at a price of $17.35 per share. Z Capital said on Tuesday that 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 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 month. The committee that is special concluded that a purchase handle Z Capital had been the one that would benefit Affinity Gaming and recommended the Board to accept the proposal euro palace casino contact.

Commenting in 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 it was the result from a comprehensive consideration of Z Capital’s definitive offer. Continue reading