Australia's Crown Resorts gets A$3.1b funding offer from Oaktree

[BENGALURU] 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 (S$3.17 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 for the buyback by Crown.

REUTERS

A NEWSLETTER FOR YOU

Tuesday, 12 pm

Property Insights

Get an exclusive analysis of real estate and property news in Singapore and beyond.

Sign Up