Blackstone-Crown agreement approved by the Federal Court

Home » Blackstone-Crown agreement approved by the Federal Court

The Australian Federal Court approves the agreement between the Blackstone giant and the Crown Resorts group.

With this agreement, Blackstone will be able to complete the acquisition of the Australian group For a value of $ 8.87 billion.

But let's go see, then, What this approval will bring to of the proposal filed by the group still months ago and of which we had told you about in this article.

What is Blackstone?

Blackstone, the group that has finally seen the agreement approved for the acquisition of Crown Resorts, It is one of the largest financial companies worldwide.

Ha SEDE A NEW YOWS, in the United States, and is listed on the New York Stock Exchange (NYSE). Is a company Specialized in real estate investments, hedge funds, private equity and investment strategies.

At 2022 he managed a fund of over 880 billion American dollars And it has over 3000 employees scattered around the world.

Was founded by Peter George Peterson e Stephen A. Schwarzman, and since 1985, the year of its foundation, has been led by Schwarzman who covers the role of CEO.

The agreement between Blackstone and Crown Resorts

The Australian Federal Court approves the agreement between Blackstone and Crown that provides for the acquisition of the last by SS Silver, entities owned by the giant of the world of finance.

Crown, who It was present on the ASX financial market, has already been suspended and, when the company's sale is carried out, His shareholders will collect $ 13.10 per action.

To conclude the Crown acquisition must deposit a copy of the Asic orders (Australian Securities and Investments Commission) and from that moment the sale is legal.

Why is it the Australian Federal Court that approves the agreement between Blackstone and Crown?

The reason why the Federal Court that gives consent to the agreement between Crown and Blackstone is very simple, Crown had been judged not suitable for managing his Sydney and Melbourne casinos for illegal conduct and money laundering.

Moreover, the Federal Court was not the only entity to have to give the ok for this sale. Even the authorities of Western Australia, Victoria and the new South Wales they had to give their approval.

The shareholders had already given the ok to the sale That now, after the consent of entities and federal court, can finally be concluded.

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