Blackstone-Managed Fund Buys 10% Stake in Crown Resorts
April 29 2020 - 1:25AM
Dow Jones News
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.
Crown (ASX:CWNCD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Crown (ASX:CWNCD)
Historical Stock Chart
From Apr 2023 to Apr 2024
