« Venezuela has refused to buy submarines from Russia - Poland threatens European Union’s safety »
Fortress will buy Penn Gaming for $8,9 billion
17 June 2007American investment company Fortress Investment Group LLC will buy the casino operator Penn National Gaming Inc. for 8,9 billion the dollars operating of 18 casinos and hippodromes in the USA.
Fortress will pay 67 dollars for each Penn Gaming’s share that is on 31 % above the price of these papers on results of the tenders on June, 14th, 2007. 2,8 billion dollars of promissory notes Penn Gaming is also included into the sum of the transaction.
It is supposed, that the Chairman and CEO Peter Carlino, and also Chief Financial Officer William Clifford will keep the posts in Penn Gaming after the sale of the company. The transaction should be accomplished in 12-16 months.
In February, 2007, there was an informal information that other large operator of casino Station Casinos Inc. has accepted the offer of investors’ group on purchase of the company for 8,9 billion dollars This sum includes 3,4 billion dollars of promissory notes of the operator which operate with 16 casinos in the United States.
According to a source in Station, the board of directors of the company has approved the offer of executive director Station, the president of company, and also company Colony Partners LLC according to which each shareholder will receive 90 dollars for one security.
Earlier, investors offered 4,7 billion dollars (82 dollars for the action) for Station, however, subsequently they have increased the offer.
Fertitta Colony Partners LLC is the affiliated structure of Colony Capital LLC and it is one of the largest investment companies in the real estate sphere.
- Net profit of Canon has increased up to $4,57 billion
- Net profit of Nestle has grown up to € 3,2 billion
- Nippon Steel’s net profit has grown up to $2,96 billion
- In I half-year net profit of HSBC has decreased on 29 %
Leave a reply
You must be logged in to post a comment.
