Crown casino director sells down stake

Last updated 15:59 28/12/2012

Relevant offers

World

Starbucks CEO Howard Schultz to step down Nestle claims it can slash sugar in its chocolate bars by 40 per cent Blowing Bubbles: That time when house prices fell 75 percentage points in Dublin Australian man turns off Telstra's 2G network, says goodbye to his 13-year-old Nokia Ever wondered why McDonald's chicken nuggets are shaped the way they are? A Bunnings shoplifting romance: Love-struck tradie forgets to pay for $3 battery, still gets girl Scammers shave regular kittens and sell them as hairless Sphynx cats Inventor of McDonald's Big Mac dies at 98, never revealed his special sauce recipe Fresh NZ air selling cheap in China at $44 a bottle Dolly magazine to stop print editions after 45 years

Crown non-executive director John Alexander has sold half his shares in James Packer's casino group for A$2.56 million ($3.24 million).

Crown told the Australian Securities Exchange on Christmas Eve that Alexander had offloaded 249,498 shares in the company on December 19.

The shares were sold on market and netted Alexander A$2.56m, the notice said.

Alexander's share sale coincided with Packer upping his stake in Crown with the purchase of nearly 14 million shares for more than A$143m.

The move increased Packer's stake in Crown to 50.1 per cent  from 48.09 per cent as the billionaire used his private companies Consolidated Press Holdings and Cairnton Holdings to snap up shares on December 19 and 20.

In addition to sitting on the Crown board, Alexander was executive chairman of pay-TV investment vehicle Consolidated Media Holdings until the company's recent takeover by Rupert Murdoch's News Corporation.

He is a former editor-in-chief of The Sydney Morning Herald and Australian Financial Review newspaper.

Ad Feedback

- AAP

Special offers

Featured Promotions

Sponsored Content