Melco Resorts & Entertainment Limited announced that it bought yesterday a 19.99 percent stake in Crown Resorts Limited from CPH Crown Holdings Pty Limited.
According to a statement by the Macau gaming operator, it executed a definitive purchase agreement through which a subsidiary of Melco will acquire 135.35 million Crown shares from CPH for a price of A$13.00 (72.70 patacas) per Crown share.
The statement said that these shares represent an ownership interest of about 19.99 percent in Crown. The statement also said that the transaction will close in two equal tranches next Thursday and on or before September 30 this year.
