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Australia's Crown Resorts says Blackstone bought near 10% of its shares

Credit: REUTERS/Brendan McDermid

Australia's Crown Resorts Ltd said on Wednesday that U.S. private equity firm Blackstone Group Inc had bought some of its shares from Macau casino operator Melco Resorts & Entertainment Ltd.

April 29 (Reuters) - Australia's Crown Resorts Ltd CWN.AX said on Wednesday that U.S. private equity firm Blackstone Group Inc BX.N had bought some of its shares from Macau casino operator Melco Resorts & Entertainment Ltd MLCO.O.

Crown said an entity controlled by Blackstone had bought about 67.7 million of its shares from Melco, which in February had shelved a bid to raise its holding in the Australian firm due to a plunge in traveller numbers.

The stake that changed hands represented about 9.99% of the issued capital of Crown, it said.

(Reporting by Rashmi Ashok in Bengaluru)

((Rashmi.Ashok@thomsonreuters.com; +918061822604;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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