macquarie-sells-aussie-reit-for-a-a300-million-gain

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 and CEO Greg Goodman and three other cornerstone investors, and the other 50% to other institutions on the open market.

The sale is a timely exit for Macquarie Bank that has been realising gains from...
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