Australia’s Crown Resorts says Blackstone bought near 10% of its shares By Reuters

© Reuters.

(Reuters) – Australia’s Crown Resorts Ltd (AX:) said on Wednesday that U.S. private equity firm Blackstone Group Inc (N:) had bought some of its shares from Macau casino operator Melco Resorts & Entertainment Ltd (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.

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