April 19 (Reuters) - Crown Resorts Ltd CWN.AX :
* CROWN RECEIVES PROPOSAL FROM OAKTREE
* RECEIVED UNSOLICITED, PRELIMINARY, NON-BINDING & INDICATIVE PROPOSAL FROM A CO ON BEHALF OF FUNDS MANAGED & ADVISED BY OAKTREE CAPITAL
* PROPOSAL TO PROVIDE A FUNDING COMMITMENT OF UP TO A$3.0BN TO CROWN
* BOARD HAS NOT YET FORMED A VIEW ON MERITS OF OAKTREE PROPOSAL.
* WILL NOW COMMENCE A PROCESS TO ASSESS OAKTREE PROPOSAL.
* PROCEEDS TO BE USED BY CROWN TO BUY-BACK SOME OR ALL OF CROWN SHARES WHICH ARE HELD BY CONSOLIDATED PRESS HOLDINGS PTY LIMITED