2301 GMT [Dow Jones]--Macquarie is likely to make a gain on sale of around A$500 million from offloading its North American and European public investments business to Nomura, reckons Barrenjoey. Macquarie sold the business for A$2.8 billion and Barrenjoey estimates it had a carrying value of A$2 billion. In addition, Macquarie is likely to incur fees of some A$300 million, Barrenjoey says. "We view this transaction positively," analyst Jon Mott says. "Given Macquarie Asset Management's focus on private markets we do not believe these businesses are strategically essential, especially as Macquarie has maintained a U.S. distribution agreement with Nomura." (david.winning@wsj.com)
(END) Dow Jones Newswires
April 22, 2025 19:04 ET (23:04 GMT)
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