UBS in $200 million Brambles block trade

UBS's institutional desk, run by head of Australian distribution George Kanaan, was in the market on Friday, selling a $200 million block of shares in Brambles.

UBS's institutional desk, run by head of Australian distribution George Kanaan, was in the market on Friday, selling a $200 million block of shares in Brambles.

It's understood 16.6 million shares in the wooden pallet and plastic container pooling company were offered at $12.15 apiece, a 1.3 per cent discount to the last close.

The client-to-client block was the largest institutional trade [not involving a corporate] for two years, sources said.  

Brambles share price faltered earlier this month on news chief executive Tom Gorman would retire in February after seven years at the helm. 

The market was concerned that the company's bullish long term earnings guidance, which goes out to 2019, would not survive the change in chief executive from Gorman to Graham Chipchase, a former CEO and CFO at Rexam Plc.

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Macquarie Atlas Roads Group book clears at $5.32; sources

Macquarie Group has sold a 10 per cent stake in Macquarie Atlas Roads Group for $5.32 a share.

Macquarie Group has sold a 10 per cent stake in Macquarie Atlas Roads Group for $5.32 a share. 

Investor sources told Street Talk the parcel of 53 million shares cleared at $5.32, which was 7¢ above a bookbuild floor price. 

Macquarie had its house broker in the market seeking bids for the stake from $5.25 a share, as revealed by Street Talk on Friday morning. 

Macquarie Atlas shares last traded at $5.55. 

Macquarie will retain a 10 per cent stake in Macquarie Atlas Roads Group. 

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Wolseley Private Equity selling down IVE Group stake

Brokers Evans and Partners and Bell Potter Securities were seeking bids for 16.9 million shares in listed printing company IVE Group on Friday morning. 

Brokers Evans and Partners and Bell Potter Securities were seeking bids for 16.9 million shares in listed printing company IVE Group on Friday morning. 

According to terms sent to potential buyers, the 16.9 million shares were being sold at $2.10 each. 

The offer was priced at a 4.5 per cent discount to the last close. 

The brokers were seeking bids by 9.30 am on Friday on behalf of Wolseley Private Equity.

Wolseley planned to retain an 18.9 per cent stake following the selldown. 

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Antipodes Partners LIC cruises past $100m mark

Global equities manager Antipodes Partners has turned its attention to hitting $330 million for its new listed investment company, after cruising past the $100 million minimum target.

Global equities manager Antipodes Partners has turned its attention to hitting $330 million for its new listed investment company, after cruising past the $100 million minimum target. 

It's understood Antipodes' eight-strong broker syndicate took bids worth more than $100 million on day one when the new Antipodes Global Investment Company offer opened earlier this week, easily meeting its minimum raising requirement. 

It means the LIC will list as planned on October 14 and Antipodes, and its brokers, seem hopeful of getting close to the $330 million maximum raising mark. 

Antipodes stockpicker and founder Jacob Mitchell has spend the past week marketing to potential investors in New Zealand, Perth and Melbourne, and will head to Sydney, Brisbane and Adelaide next week. 

The fundraising comes after a successful first full financial year for Antipodes. The firm's global fund returned 7.4 per cent after fees in the year to June 30, while the benchmark MSCI AC World Net Index dropped 0.6 per cent. 

It's understood Antipodes also expects to cross the $1 billion in funds under management mark this week. 

NAB is running Antipodes' LIC as lead arranger, while the joint lead manages include Morgans, Morgan Stanley Wealth Management, Ord Minnett and Taylor Collison. Bell Potter, JBWere and Wilsons are co-managers.

Seed Partnerships is running the deal as corporate adviser. 

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Macquarie in market with $278m Macquarie Atlas Roads block

Macquarie's equities desk was in the market with 53 million shares in Macquarie Atlas Roads Group on Friday morning.

Macquarie's equities desk was in the market with 53 million shares in Macquarie Atlas Roads Group on Friday morning. 

The desk was calling for bids from a $5.25 floor price, which was a 5.4 per cent discount to the last close. 

The shares were being sold on behalf of Macquarie Group, which manages Macquarie Atlas Roads Group. 

It would take Macquarie's stake in the toll road owner to 10 per cent, from 20 per cent. 

It's understood the desk has told potential buyers that the stake had become a big position for its parent, with Macquarie receiving Macquarie Atlas Roads shares as part of its performance fee. 

The broker was seeking bids by 11.30am Sydney time. 

Macquarie Atlas Roads shares went into a trading halt on Friday morning. 

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