AAPĬhris Tynan, Blackstone’s head of real estate, said the private equity firm’s buyout of Crown was its biggest transaction in the Asia-Pacific, and it would sit down with management to nut out an investment plan for its flagship Melbourne casino. James Packer’s run on the ASX has come to a close, after Blackstone completed its acquisition of Crown Resorts. US private equity giant Blackstone has pledged to commit significant capital to rebuild Crown Resorts after completing its buyout of the Packer family’s stricken casino empire for $8.9 billion on Friday.Ĭrown Resorts ended its 15 years on the ASX boards on Friday afternoon, book-ending one of the biggest corporate scandals in Australian history with a $3.26 billion golden parachute for major shareholder James Packer.
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