Melco Completes MCE Buy

Melco International Development Ltd. has completed the purchase of an additional interest in Melco Crown Entertainment and now holds a majority stake in the global gaming enterprise.

Group now has 51.3 percent share

Melco International Development now owns approximately 51.3 percent of Melco Crown Entertainment. The company formerly owned 37.9 percent of the global gaming concern.

According to the company, the aggregate purchase price for 198 million ordinary shares was US$1.1 billion. Melco paid a deposit of US$100 million on signing the acquisition agreement and obtained a credit facility of up to US$1 billion from Industrial and Commercial Bank of China Macau Ltd. and Industrial and Commercial Bank of China Asia Ltd.

The rest of the closing payment was settled using the group’s internal resources, reported GlobalNewswire.com.

**GGBNews.com is part of the Clarion Events Group of companies (Clarion). We take your privacy seriously. By registering for this newsletter we wish to use your information on the basis of our legitimate interests to keep in contact with you about other relevant events, products and services which may be of interest to you. We will only ever use the information we collect or receive about you in accordance with our Privacy Policy. You may manage your preferences or unsubscribe at any time using the link in our emails.