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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