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CWN Crown Resorts Limited

13.08
0.00 (0.00%)
05 Dec 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Crown Resorts Limited ASX:CWN Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 13.08 13.09 13.10 0.00 00:00:00

Blackstone-Managed Fund Buys 10% Stake in Crown Resorts

29/04/2020 6:25am

Dow Jones News


Crown Resorts (ASX:CWN)
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From Dec 2019 to Dec 2024

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   By Yi Wei Wong 
 

Midnight Acacia Holdings Pte., an investment holding company managed by Blackstone Group has bought a 10% stake in Crown Resorts for $551.6 million Australian dollars (US$358.0 million).

The investment company purchased the shares from Melco Resorts & Entertainment at A$8.15 a share, Melco Resorts said in a filing to the local stock exchange Wednesday.

Proceeds from the sale will be used for general working capital and to strengthen the company's balance sheet during the recent Covid-19 pandemic, it said in the filing.

After the sale, Melco has ceased to be a shareholder of Crown Resorts, it said.

 

Write to Yi Wei Wong at yiwei.wong@wsj.com

 

(END) Dow Jones Newswires

April 29, 2020 01:10 ET (05:10 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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