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.
