April 19 (Reuters) - Crown Resorts Ltd (CWN) :
- CROWN RECEIVES PROPOSAL FROM OAKTREE
- RECEIVED UNSOLICITED, PRELIMINARY, NON-BINDING & INDICATIVE PROPOSAL FROM A CO ON BEHALF OF FUNDS MANAGED & ADVISED BY OAKTREE CAPITAL
- PROPOSAL TO PROVIDE A FUNDING COMMITMENT OF UP TO A$3.0BN TO CROWN
- BOARD HAS NOT YET FORMED A VIEW ON MERITS OF OAKTREE PROPOSAL.
- WILL NOW COMMENCE A PROCESS TO ASSESS OAKTREE PROPOSAL.
- PROCEEDS TO BE USED BY CROWN TO BUY-BACK SOME OR ALL OF CROWN SHARES WHICH ARE HELD BY CONSOLIDATED PRESS HOLDINGS PTY LIMITED
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