Original article by Lachlan Moffet Gray
The Australian – Page: 13 & 17 : 7-Apr-21
Consolidated Press Holdings has appointed investment bank Moelis Australia to advise on a possible sale of its 37 per cent stake in Crown Resorts. The private investment vehicle of businessman James Packer has stated that it is open to any "suitable transaction" for Crown shares, including the $8bn indicative bid from US private equity firm Blackstone. The offer of $11.85 per share values Packer’s stake in Crown at around $2.95bn. The casino group’s shares fell 0.84 per cent to $11.81 on 6 April.
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, MOELIS AUSTRALIA PTY LTD – ASX MOE, THE BLACKSTONE GROUP LP