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Crown Resorts Ltd said on Monday it will back a A$8.87 billion ($6.3 billion) binding takeover offer from U.S. private equity firm Blackstone Inc , as the lengthy takeover saga for Australia''s largest casino operator nears its end.

U.S. private equity giant Blackstone Inc. has won its almost yearlong pursuit of Crown Resorts Ltd. after the troubled Australian casino operator on Monday accepted its A$8.9 billion ($6.4 billion) takeover offer.

Australia''s largest casino operator Crown Resorts Ltd said on Monday it would back a A$8.87 billion ($6.32 billion) binding takeover offer from U.S. private equity firm Blackstone Inc.($1 = 1.4025 Australian dollars) (Reporting by Shashwat Awasthi; editing by Grant McCool)

(Reuters) Australias largest casino operator Crown Resorts Ltd said on Monday it would back a A$8.87 billion ($6.32 billion) binding takeover offer from U.S. private equity firm Blackstone Inc. ($1 = 1.4025 Australian dollars) (Reporting by Shashwat Awasthi; editing by Grant McCool) Read More

Australia''s largest casino operator Crown Resorts Ltd said on Monday it would back a A$8.87 billion binding takeover offer from U.S. private equity firm Blackstone Inc. | February 13, 2022

Crown Resorts said Monday it had accepted the Blackstone Group's A$8.9 billion ($6.3 billion) takeover offer for the Melbourne-based casino operator.

SYDNEY — Australian casino operator Crown Resorts Ltd. said Monday it has agreed to a takeover proposal from U.S. investment firm Blackstone Inc. that values the company's equity at 8.9 billion Aust

Australia's largest casino operator Crown Resorts Ltd said on Monday it would back a A$8.87 billion ($6.32 billion) binding takeover offer from U.S. private equity firm Blackstone Inc.

In the largest ever transaction for any retail asset in India, the Abu Dhabi Investment Authority-backed Lake Shore India Advisory has acquired Viviana Mall in Thane from Singapore’s sovereign wealth fund GIC and realty developer Ashwin Sheth Group for over Rs 1,900 crore, said people with direct knowledge of the development.The acquisition of the operational retail property is also this year’s first single-largest real estate transaction in the country.In June, ET was the first to report that Lake Shore India Advisory was in advanced discussions to acquire this nearly 2-million-sq-ft retail mall.The deal assumes significance as it indicates global investors’ unabated interest in Indian mall developments and confidence that retail consumption will rebound once the Covid-19 pandemic is over.Viviana Mall occupies a 13-acre plot of land on Thane''s Pokhran Road and has a total lease area of 1.7 million square feet. It houses one of the largest multiplexes with 14 screens, including an Imax experience."Lake Shore India’s subsidiary Salsette Developers is acquiring the property from Sheth Developers & Realtors (India) that owns and operates Viviana Malls.

An affiliate of e-commerce major Amazon India has signed on 2.5 million sq ft of warehouse space in the last four months across Mumbai, Hyderabad, and Bengaluru to ramp up operations in the country.The US-based e-commerce firm is also in talks with Blackstone Group''s logistics development platform, Horizon Industrial Parks, to lease half a million sq ft of warehouse space in Delhi and Alipore."Amazon is looking to set up a built-to-suit facility. The deal is expected to take at least two months. The proposed in-city warehouse will come up on a part of the 36 acres land bought by Blackstone in Delhi from TARC in a deal valued at Rs 295 crore," said two people aware of the matter.For Amazon, this is the fourth such large leasing deal that the US-based firm is in the process of finalising.Since September last year, some of the large deals closed by the company include 6 lakh sq ft of warehouse space at India’s biggest logistics cluster, Bhiwandi in Mumbai Metropolitan Region, and another one million sq ft of warehouse space at the Shamshabad locality in South Hyderabad from ESR.This was followed by an additional one million sft of warehouse facility at Devanahalli Industrial and Logistics Park, Bengaluru, from Logos."The firm has been very aggressive in the past four months and is looking to ramp up operations further.

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Aurobindo Pharma said it is actively evaluating to enter the domestic formulation business through a combination of acquisitions and organic launches.The company said it will bring more clarity on its domestic formulations foray in the first quarter of next year.The company said it plans to have Rs 1000 crore sales in next three years from the date of first launch, and is prepared to allocate capital whatever capital needed.Domestic formulation portfolios and brands are valued at an average 3-4 times of sales in the recent mergers and acquisitions (M&As)."We are prepared for it," said P. V Ram Prasad Reddy, promoter and non-executive director of Aurobindo Pharma at the company''s earnings call on Thursday."We feel we have the cash flow, we may get another $200-$300 million additional cash flow in the next 4-5 quarters, so this is the time we want to go to either branded or OTC, or maybe both" Reddy said.Reddy also said the branded formulation in India now doesn''t require thousands of reps (sales representatives) to promote products.Aurobindo Pharma is largely an export oriented drug maker, while it does have an India business which is business-to-business (B2B) involving sale of active pharmaceutical ingredients to other drug makers.Aurobindo has net cash of $211 million as on December 2021.

Blackstone (BX) said its portfolio firm MNRK Music Group sold the Death Row Records brand to rapper Snoop Dogg.Terms of the transaction were not disclosed.The deal comes on the heels…

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Mumbai: Aurobindo Pharma is understood to have shortlisted four bulge-bracket global investors - Blackstone Group, Advent International, CVC Capital and Baring Private Equity Asia - for a potential billion-dollar investment in its injectables business unit in lieu of a 20-30% stake.The transaction is seen as a prelude to Aurobindo''s potential value-unlocking exercise, which would eventually involve listing the injectables business separately, multiple industry sources with knowledge of the matter told ET."We are in advanced negotiations with PE funds for the stake sale. We hope to receive binding offers soon and are aiming to sign a definitive agreement by the fiscal end," said one of the sources cited above. Kotak Mahindra Capital is running a formal process for the drugmaker to find a buyer. 89441599Several other funds, including TPG Capital Management, Bain Capital, Carlyle Group and PAG, were also in the consideration set.Last month, ET first reported that Aurobindo plans to sell a minority stake in the injectables business and has initiated talks with PE funds.Mail sent to Aurobindo, Blackstone, CVC, and Kotak Mahindra Capital remained unanswered.