Melco Resorts Will Acquire its Parents’ Cyprus Project
Narrow-moat Melco Resorts has agreed to acquire, from its parent Melco International Development, the latter’s 75% stake in ICR Cyprus Holdings for approximately USD 375 million, or 18.5 million ADS', or 4% of Melco Resorts new shares. After the transaction, Melco International’s stake in Melco Resorts will increase to 56%, from 54%, by March 2019. Both Melco Resorts and Melco International Development are controlled by Lawrence Ho. This related party transaction raises a concern that the parent...
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