Oaktree offers Australia's Crown Resorts $2.3b to buy out James Packer's 37% stake

Oaktree offers Australia's Crown Resorts $2.3b to buy out James Packer's 37% stake

Australian billionaire James Packer, co-chairman of Melco Crown Entertainment, attends a news conference at Melco Crown's Studio City in Macau, China October 27, 2015.

Oaktree Capital Group proposed bankrolling a A$3 billion ($2.3 billion) buyback by Australian casino company Crown Resorts Ltd of its founder’s stake, potentially spoiling a full buyout by Blackstone Group Inc.

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