CWN crown resorts limited

News: CWN Australia's Crown Resorts gets $2.4 bln funding offer from Oaktree

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    June 15 (Reuters) - Australia's Crown Resorts (CWN) said on Tuesday it had received a modified proposal from Oaktree Capital Group OAK_pa.N , with a provision for funding of A$3.1 billion ($2.39 billion) for the casino operator to buyback its founder's stake.

    The latest proposal from the private-equity firm consists of a A$2 billion private loan and a A$1.1 billion loan convertible into new shares to be issued by Crown, the company said in a statement.

    Oaktree in April proposed providing A$3 billion ($2.3 billion) for the buyback by Crown.

    ($1 = 1.2967 Australian dollars)

 
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