{"id":16969,"date":"2021-04-19T14:54:20","date_gmt":"2021-04-19T14:54:20","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16969"},"modified":"2026-04-23T20:17:43","modified_gmt":"2026-04-23T23:17:43","slug":"oaktree-makes-us2-32bn-offer-for-james-packers-crown-shares","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/oaktree-makes-us2-32bn-offer-for-james-packers-crown-shares","title":{"rendered":"Oaktree makes US$2.32bn offer for James Packer’s Crown shares"},"content":{"rendered":"\n

Crown Resorts has received an AU$3bn (US$2.32bn) offer from Oaktree Capital Management to acquire the 37 per cent stake owned by James Packer.<\/p>\n\n\n\n\n\n\n\n

Australia.-\u00a0Oaktree Capital Management<\/strong> has made an unsolicited non-binding offer to acquire\u00a0some or all of the Crown shares owned by James Packer<\/strong>\u00a0through his private company\u00a0Consolidated Press Holdings (CPH)<\/strong>.<\/p>\n\n\n\n

Packer<\/strong>\u00a0had said that he is open to selling his 37 per cent stake in the casino group<\/a>, hiring investment bankers\u00a0Moelis Australia<\/strong>\u00a0to advise on any potential deal.<\/p>\n\n\n\n

New South Wales’ regulator had advised that Packer should\u00a0take a step back from Crown Resorts<\/a>\u00a0to help the casino operator retain its licence for its new casino in Sydney following an inquiry into money laundering failings and business practices. <\/p>\n\n\n\n

Crown Resorts said that any selective buy-back\u00a0<\/strong>of Crown shares held by Consolidated Press Holdings would be\u00a0subject to Crown shareholder approval<\/strong>.<\/p>\n\n\n\n

The company said the board has not yet formed a view on the merits of the Oaktree proposal\u00a0<\/strong>and that it will commence an assessment.<\/p>\n\n\n\n

In March, Crown Resorts received an unsolicited non-binding offer from the\u00a0Blackstone Group to acquire the company for AU$11.85 cash per share<\/a>. Blackstone already\u00a0has a 10 per cent holding<\/strong>\u00a0in the casino operator.<\/p>\n\n\n\n

Western Australia\u2019s Royal Commission\u00a0has started to investigate Crown Resorts\u2019 suitability<\/a>\u00a0<\/strong>to continue holding a casino gaming licence for Crown Perth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crown Resorts has received an AU$3bn (US$2.32bn) offer from Oaktree Capital Management to acquire the 37 per cent stake owned by James Packer.<\/p>\n","protected":false},"author":176,"featured_media":16970,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts has received a AU$3bn offer from Oaktree Capital Management for James Packer's 37% stake, following an earlier AU$11.85 per share bid from Blackstone Group for the entire company. These M&A activities occur amidst significant regulatory scrutiny, with both New South Wales and Western Australia investigating Crown's suitability to hold gaming licenses due to past compliance failings.","focusai_entities":"Crown Resorts, Oaktree Capital Management, James Packer, Consolidated Press Holdings (CPH), Blackstone Group, Moelis Australia, New South Wales regulator, Western Australia\u2019s Royal Commission","focusai_location":"Australia, Sydney, Perth","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Governance Reforms","query":"What are the specific governance reforms Crown Resorts must implement to satisfy the New South Wales regulator and retain its Sydney license?"},{"label":"Acquisition Impact","query":"How might the competing acquisition offers from Oaktree Capital and Blackstone Group impact Crown Resorts' valuation and long-term strategic direction?"}],"footnotes":""},"categories":[16336,157],"tags":[16237,14657],"class_list":["post-16969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-blackstone-group","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16969"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16969\/revisions"}],"predecessor-version":[{"id":16993,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16969\/revisions\/16993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16970"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}