Magellan Financial Group Says Lowry Family Acquires 5.1% Stake, Shares Jump 4%

MT Newswires Live

03/06

Magellan Financial Group (ASX:MFG) said that Oryxium, representing a trust for the benefit of members of the Lowy Family and entities they control, acquired a 5.1% stake in Magellan for a consideration of AU$79 million, as of Friday, according to a same-day Australian bourse filing.

Oryxium now owns 9.4 million shares in the firm.

Magellan's shares rose 4% in recent trading on Friday.

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