Macquarie sells Aussie REIT for a A$300 million gain

In an overnight placement, Macquarie Bank sells its 7.7% stake in Macquarie Goodman Group. No change to its Asian operations, says the bank.

In an ongoing effort to recycle capital, Macquarie Bank has offloaded its 7.7% stake in the Macquarie Goodman real estate trust via an overnight placement to shareholders.

Macquarie sold 124 million shares in the largest industrial property group on the ASX at a price of A$5.90 per security, netting A$733 million in proceeds and a pre-profit share gain of about A$300 million.

The bank acted as sole lead manager on the transaction, selling about half of the shares to founder...

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