Blackstone acquisition of Crown gets Australian government nod

The proposed acquisition of Crown Resorts by U.S.-based Blackstone Group has been approved by the Foreign Investment Review Board (FIRB), meaning that the Australian government has no objection to the takeover.

Crown informed shareholders that the buy-out remains subject to a number of other conditions, including approval from gaming regulatory authorities, Crown shareholder approval, and court approval.

Last month, the Australian casino operator recommended its shareholders vote in favor of an A$8.9 billion ($6.3 billion) all-cash offer from Blackstone to acquire the casino company.

Source: https://agbrief.com/news/australia/29/03/2022/blackstone-acquisition-of-crown-gets-australian-government-nod/