(To read more on the industrial market, click here.)
SYDNEY-Macquarie Bank has sold its 7% in giant industrialproperty trust Macquarie Goodman Group to realize more than A$730million ($555 million). Both parties declined to comment, but it isunderstood Goodman Holdings bought 1%, increasing its stake to9%.
The sale ends Macquarie Bank's six-year association with theindustrial trust. Analysts expect Macquarie Goodman to bere-branded and the Macquarie name dropped. The bank's 124 millionMacquarie Goodman securities were offered at a fixed price of aboutA$5.90, a 7.7% discount to the trust's closing price yesterday ofA$6.39.
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