Crown casino director sells down stake

Last updated 15:59 28/12/2012

Relevant offers

World

How bad can a tweet be for business? Hootsuite CEO Ryan Holmes should know An era ends for Starbucks and Howard Schultz Former Australian economist James Shugg jailed over UK drug-fuelled sex parties A $5.1 trillion deal? Painter says he's richer than Gates, Buffett and Bezos How your bad shopping choices affect my loved ones in Bangladesh Who's that hidden on your Toblerone? Kiwi to take over as CEO of Carl's Jr parent company Comment: This may be the day the Trump trade died Uber pledges to fix 'cult of the individual' amid scandals 'People are just making things up' about share sale - Gerry Harvey

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