Thursday, May 30, 2024
HomeNewsAustraliaOaktree offers $3b funding for Crown to buy Packer stake

Oaktree offers $3b funding for Crown to buy Packer stake

Crown Resorts said a group of funds advised by Oaktree Capital Management has agreed to provide up to $3 billion in funding for the company to buy back shares held by James Packer’s Consolidated Press Holdings.

Oaktree will provide the financing via a “structured instrument” to buy all, or some of Packer’s 37 percent stake.

Crown said it’s evaluating the proposal. The company is also subject to a separate takeover bid from Blackstone Group, which has offered about A$8 billion.


AGBrief Editorial
AGBrief Editorial
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.



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