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
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