Alternatives news roundup: Australian casino bets on rival purchase; CPPIB's Indian Invit interest
Australian casino vies with two private equity funds to acquire rival; Canada's CPPIB to invest into India Invit fund; Chikyoren hires Nomura and Tokio Marine fund managers for alternative mandates; OTPP real estate arm becomes founding investor in Asia Pacific focused fund; LBC Express Holdings owners consider stake sale; and more.
AUSTRALIA
Australian casino operator Star Entertainment Group on Monday (May 10) proposed an all-stock buyout of larger rival Crown Resorts that it valued at A$9 billion ($7 billion), taking on two private equity giants for control of the troubled company.
Three months after Crown was declared unfit for a gambling licence at its new Sydney resort tower, Star said the share-swap takeover approach would create "one of the largest and most attractive integrated resort operators in…
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