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LA Businessman Steve Soboroff on His Life and Development Career

LA Businessman Steve Soboroff on His Life and Development Career
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Oaktree Investments proposes to buy back James Packer's stake in Crown Resorts

Oaktree Investments proposes to buy back James Packer's stake in Crown Resorts
19 Apr, 2021 12:43 AM
2 minutes to read
James Packer. Photo / Getty Images
news.com.au
By: Gerard Cockburn
An investment firm has pledged to fund a buyout of James Packer's stake in Crown Resorts, potentially paving a way for the casino giant to obtain its Sydney gaming licence.
Crown acknowledged that it had received a "non-binding and indicative" proposal from Oaktree Investments to fund a buy back of shares owned by the billionaire's private company Consolidated Press Holdings (CPH).
Oaktree's proposal details an investment funding of nearly A$3 billion ($3.2b) to Crown in order to buy back "some or all" of the shares held by CPH.

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