© Reuters. FILE PHOTO: The logo of Australia’s casino operator Crown Resorts adorns a fence surrounding the Crown Perth hotel and casino complex in Western Australia, October 20, 2016. REUTERS/Aaron Bunch(Reuters) – Australia’s Crown Resorts said on Tuesday it had received a modified proposal from Oaktree Capital Group, with a provision for funding of A$3.1 billion ($2.39 billion) for the casino operator to buyback its founder’s stake.
The latest proposal from the private-equity firm consists of a A$2 billion private loan and a A$1.1 billion loan convertible into new shares to be issued by Crown, the company said in a statement.
Oaktree in April proposed providing A$3 billion ($2.3 billion) for the buyback by Crown.
($1 = 1.2967 Australian dollars)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.