May 30, 2019 / 10:56 AM / 5 months ago

Melco Resorts to buy 20% stake in Australia's Crown Resorts for $1.22 bln

May 30 (Reuters) - Melco Resorts & Entertainment Ltd said on Thursday it would buy a 19.99% stake in Australia’s Crown Resorts Ltd for A$1.76 billion ($1.22 billion). Melco’s offer represents a marginal premium of 0.6% to Crown’s last closing price of A$12.92. ($1 = 1.4436 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by James Emmanuel)

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