{"id":4823,"date":"2021-06-16T11:34:56","date_gmt":"2021-06-16T11:34:56","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=4823"},"modified":"2021-06-16T11:34:56","modified_gmt":"2021-06-16T11:34:56","slug":"oaktree-sends-in-revised-proposal-to-crown-resorts-to-buy-out-james-packer","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/oaktree-sends-in-revised-proposal-to-crown-resorts-to-buy-out-james-packer\/","title":{"rendered":"Oaktree Sends In Revised Proposal To Crown Resorts To Buy Out James Packer"},"content":{"rendered":"

\"OaktreeAustralian based casino operator, Crown Resorts<\/strong> has confirmed that it has received a revised proposal from U.S based Oaktree Capital Management<\/a> to buy-out all of the shares owned by former chairman and CEO James Packer<\/strong>. <\/p>\n

Oaktree which is a global asset management firm sent in its first proposal to buy-out majority shareholder James Packer\u2019s stock<\/a> back in April 2021. The proposal offered to give Crown Resorts up to A$3 billion in funding to acquire all of Packer\u2019s shares. Crown Resorts did not provide any official decision as to whether it accepted or rejected the offer.<\/p>\n

We are not sure if Crown Resorts communicated privately with Oaktree but the U.S. based firm decided to send in a revised offer which looks a lot more attractive. The new offer is to purchase the 9.9 percent stake that Consolidated Holdings owns in Crown Resorts. <\/p>\n

Consolidated Holdings is a company that belongs to James Packer and Oaktree is now offering to pay A$3.1 billion to complete the acquisition that will allow it to own nearly 10 percent of Crown Resorts. The proposal will see Oaktree provide a private loan of A$2 billion and the remaining A$1.1 billion will come via a convertible loan that can be translated into shares.<\/p>\n

ABC News (Australia)<\/strong><\/p>\n

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