Far East Consortium International

The Star Entertainment Group has failed to complete the sale of its 50% stake in the Destination Brisbane Consortium, and its Hong Kong partners have terminated the deal. The Star now faces demands to repay A$41 million in proceeds and equity contributions, with the first instalment due on 6 August. The company's share price fell by as much as 16.4% on the ASX at one point.

4m ago

Star Entertainment Group has reached a new binding agreement to sell its 50% interest in the Destination Brisbane Consortium to its Hong Kong joint venture partners. The deal revives an arrangement that had collapsed, and its terms broadly match the one signed in March. Both stages remain subject to regulatory approval, according to the report.

4m ago