James Packer's private firm open to Blackstone's buyout proposal for Crown Resorts

FILE PHOTO: The Crown Casino complex is pictured in Melbourne March 19, 2016. REUTERS/Jason Reed//File Photo

(Reuters) – James Packer’s Consolidated Press Holdings (CPH) said on Tuesday it was open to considering private equity firm Blackstone Group’s A$8.02 billion ($6.13 billion) proposal to buy Australian casino operator Crown Resorts.

CPH, Packer’s private firm and the top shareholder in Crown, has hired Moelis Australia to advise it on its 37% stake.

Crown has tapped UBS as its adviser.

($1 = 1.3086 Australian dollars)

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