James and Gretel Packer still ‘tremendously close’

James Packer has declared he and his sister Gretel remain ‘tremendously close’ after carving up the family’s fortune.

Gretel Packer.

An emotional James Packer has declared that he and his sister Gretel remain “tremendously close’’ after agreeing to carve up the family’s multi-billion-dollar fortune, a move that made her an instant billionaire.

James and Gretel Packer came to a ­secret agreement to divide their wealth early last month, in a deal believed to be worth about $1.25 billion to Ms Packer.

Mr Packer has already paid his sister a lump sum worth hundreds of millions of dollars. She will subsequently receive a series of smaller, secured cash payments from her brother.

She also retains a small preferential interest in the Packers’ private family company, Consolidated Press Holdings.

Speaking to The Australian after the annual general meeting of gaming company Crown ­Resorts, which is half owned by Mr Packer, he said he was “very proud that my sister and I ­remain tremendously close’’.

“I am very close with Erica and I am very close with Jodhi. And you know what, it means a lot to me,’’ he said of his second wife Erica Baxter and his first wife Jodhi Meares, the latter of whom accompanied Mr Packer to a Perth function on Saturday.

James and Gretel were photographed dining ­together in a private room at Neil Perry’s Rockpool restaurant in Sydney on Monday night.

It is believed that while the negotiations over the past year were robust at times and involved disagreements, they have now put aside their differences.

New Crown chairman and CPH chief executive Robert Rankin earlier reiterated that the settlement would have no ­impact on Crown or CPH.