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UPDATE 1-Blackstone buys $360 mln stake in Australia's Crown Resorts; shares soar [Reuters (UK)]

Blackstone Inc. (BX) 
Last blackstone inc. earnings: 4/23 06:56 am Check Earnings Report
Company Research Source: Reuters
Blackstone buys $360 million stake in Australia's Crown Resorts; shares soar - Reuters 2 Min Read (Reuters) - Australia’s Crown Resorts Ltd ( CWN.AX ) said on Wednesday that U.S. private equity firm Blackstone Group Inc ( BX.N ) had bought all of its shares held by Macau casino operator Melco Resorts & Entertainment Ltd ( MLCO.O ), sending its share price soaring. 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 casino operator due to a drop in traveller numbers. The shares were transferred at a price of A$8.15 each, putting the transaction value at A$551.6 million ($359.04 million), and representing a discount of 5.2% to the stock’s last closing price. The stake that changed hands represented about 9.99% of the issued capital of Crown. Based on Refinitiv data as of Feb. 6, the stake represents the entire holding of Melco’s nominee. Amid plunging travel Show less Read more
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