Genting buys 3.2% stake in MGM Mirage - Tuesday 16th of June 2009

Genting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US.

Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest shareholder, invested in the US gambling group’s $1bn equity offering last month. Genting and Mr Kerkorian’s Tracinda Corp each bought 14.3m shares at $7.

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