Media Centre
Crown Limited Merger With Publishing And Broadcasting Limited
Wednesday, 26 May, 1999
VCGA Approval Granted
Publishing and Broadcasting Limited (PBL) was advised today by the Chairman of the Victorian Casino and Gaming Authority (VCGA) that the VCGA had given its approval for the merger to proceed between Crown Limited (Crown) and PBL.
The acquisition of Crown shares by PBL has been approved subject to the Victorian Minister for Gaming giving certain approvals and consents after which Crown will apply to the Victorian Supreme Court seeking its approval to the Scheme of Arrangement (Scheme).
PBL anticipates the merger to be finalised prior to 30 June 1999 and will be in a position to announce the record date for implementation when the Victorian Supreme Court has considered the Scheme.