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Magellan is selling its stake in Mexican chain Guzman y Gomez to focus on funds management. But its stake in investment bank Barrenjoey is going nowhere.
Bitter rival UBS currently ranks second as the two investment banks face-off on opposite sides of the $20b Ramsay Health Care deal.
More than eight years after big bonuses were paid to UBS bankers its complex and ill-fated PNG deal continues to haunt the Swiss bank.
Two former and one current lawyer at Norton Rose’s Australian unit face a ban from operating in PNG as a royal commission report is set to be made public on Monday.
Bain Capital has acquired a 20 per cent stake in Australian vehicle and equipment financier Allied Credit, in a deal designed to help it emerge as a major player in the changing dealer finance and auto loans market.