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Melco International ( (HK:0200) ) just unveiled an announcement.
Melco International has agreed to transfer full ownership of an internal intellectual property holding company to Melco Resorts for US$375 million in cash, payable in two instalments. The target, which holds a portfolio of trademarks licensed to the Melco Resorts group, will move from being directly owned by Melco International to being wholly owned by Melco Resorts.
Because Melco International already owns about 56.32% of Melco Resorts, the deal is effectively an intra-group reorganisation that results in a net disposal of roughly 43.68% of its direct interest in the IP vehicle, while the unit remains an indirect subsidiary and continues to be consolidated. The consideration was set after arm’s-length talks based on the scope and expected licence fee income of the trademarks, and Melco Resorts plans to fund the purchase from internal resources and existing bank facilities, signalling a balance-sheet-neutral reshuffle rather than a strategic exit.
The most recent analyst rating on (HK:0200) stock is a Sell with a HK$4.30 price target. To see the full list of analyst forecasts on Melco International stock, see the HK:0200 Stock Forecast page.
More about Melco International
Melco International Development Limited is a Hong Kong-incorporated company engaged in gaming, leisure and entertainment, with interests including its majority stake in U.S.-listed Melco Resorts. The group manages and licenses intellectual property and trademarks used across its casino and integrated resort operations in Asia and other markets.
Average Trading Volume: 6,281,093
Technical Sentiment Signal: Sell
Current Market Cap: HK$9.53B
For a thorough assessment of 0200 stock, go to TipRanks’ Stock Analysis page.