Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

BRIEF-Melco Resorts & Entertainment Buys 19.99% Stake In Crown Resorts From CPH Crown

Published 05/30/2019, 06:20 PM
Updated 05/30/2019, 06:30 PM
BRIEF-Melco Resorts & Entertainment Buys 19.99% Stake In Crown Resorts From CPH Crown
MLCO
-

May 30 (Reuters) - Melco Resorts & Entertainment Ltd
MLCO.O :
* MELCO RESORTS & ENTERTAINMENT LIMITED PURCHASES 19.99%
STAKE IN
CROWN RESORTS LIMITED FROM CPH CROWN HOLDINGS PTY LIMITED
* MELCO RESORTS & ENTERTAINMENT LTD - TRANSACTION WILL CLOSE
IN
TWO EQUAL TRANCHES ON JUNE 6, 2019 AND ON OR PRIOR TO SEPTEMBER
30, 2019.
* MELCO RESORTS & ENTERTAINMENT LTD - SHARES REPRESENT AN
OWNERSHIP INTEREST OF APPROXIMATELY 19.99% IN CROWN.
* MELCO RESORTS & ENTERTAINMENT - UNIT WILL BUY 135.35
MILLION
SHARES OF CROWN RESORTS FROM CPH CROWN HOLDINGS FOR A PRICE OF
AUD13.00 PER CROWN SHARE
* MELCO RESORTS & ENTERTAINMENT LTD - TRANSACTION DOES NOT
REQUIRE
REGULATORY APPROVAL TO BE CONSUMMATED
* MELCO RESORTS & ENTERTAINMENT - MELCO INTENDS TO PURSUE
BOARD
REPRESENTATION ON CROWN'S BOARD OF DIRECTORS COMMENSURATE WITH
ITS OWNERSHIP POSITION.
* MELCO RESORTS & ENTERTAINMENT - "SUBJECT TO OBTAINING
REQUISITE
REGULATORY APPROVALS, MELCO WELCOMES OPPORTUNITY TO INCREASE ITS
OWNERSHIP IN CROWN"

Source text for Eikon: ID:nGNX8cG2tb
Further company coverage: MLCO.O

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.