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The Star Entertainment Group has positioned its shares in a buying and selling halt forward of a board assembly to determine the on line casino group’s future amid hypothesis it’s available in the market for greater than $500 million in new capital.
The Australian Financial Review’s Street Talk column reported late on Tuesday night that Star has been in talks with US funding large Oaktree Capital Management about securing a near-term capital injection to pay down debt and preserve its bankers at bay.
Star Entertainment has positioned its shares in a buying and selling halt after experiences it’s speaking to a US investor a couple of capital injection. Bloomberg
Street Talk reported that Star and Oaktree have spent weeks speaking concerning the potential funding plans, mulling elevating buildings that would see the US group inject lots of of million of {dollars} in fairness or equity-like devices, both as a standalone transaction or as a part of a wider fairness elevating.
The whole dimension of capital injections mentioned exceeded $500 million.
The talks are understood to stay lively forward of the on line casino operator’s half-year outcomes that are because of be reported on Thursday.
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