James Packer sells almost half his stake in Crown Resorts
by Australian Associated Press from on (#4G6VT)
Deal worth $1.76bn with Melco will leave Consolidated Press Holdings with 26%
James Packer has sold almost half his stake in Crown Resorts for $1.76bn to a Hong Kong-based entertainment company.
Consolidated Press Holdings, Packer's private investment company, confirmed on Thursday night it had sold 19.99% of its shareholding in Crown Resorts to Melco Resorts and Entertainment. It was sold for an aggregate purchase price of $1.76bn, equivalent to $13 a share.
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