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Z Capital Partners Buys Affinity Gaming for Big Red Slot Machine Wins $580 Million

Z Capital Partners Buys Affinity Gaming for $580 Million

New York-based personal equity supervisor 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 play big red pokie online free.

Z Capital Partners is famous to function as the private equity management division of alternative investment manager Z Capital Group. Z Capital and its own affiliates presently have a 41% stake in Affinity Gaming. Following a latest announcement, it’s going to buy the operator’s remaining outstanding stocks at a 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.

After finding a non-binding proposal of $15 per share from Z Capital, a particular independent directors committee had been created by Affinity Gaming utilizing the reason for examining the prospective deal as well as bids from other interested pokie machine big red parties and 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 unique committee sooner or later concluded that a purchase handle Z Capital had been the one that would benefit Affinity Gaming and suggested the Board to approve the proposal.

Commenting regarding the announcement that is latest, 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 big red slot free play it was the effect from a comprehensive consideration of Z Capital’s definitive offer. (mais…)

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