Yellow Brick Road

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<p>Macquarie Group has quietly brought to an end its six years as an investor in Mark Bouris-led mortgage and wealth group Yellow Brick Road.</p>
<p>Sources said Macquarie had offloaded its remaining YBR holding, which was less than 5 per cent.</p>
<p>It comes at a time the company faces corporate raider Ron Brierley's Mercantile Investment Company.</p>
<p data-gtm-vis-first-on-screen-7770372_137="4475" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">At the height of its YBR holding Macquarie owned an 18.4 per cent stake.</p>
<p data-gtm-vis-first-on-screen-7770372_137="4475" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">Its sell-down began in April with a large tranche of YBR shares secured by Mercantile.</p>
<p>The latest Macquarie YBR divestment also throws into question other parts of the strategic partnership, according to the Australian Financial Review, as YBR talked up the company's prospects, with backing from Macquarie, of becoming a fifth pillar to rival the major banks, claims later played down by Macquarie chief executive Nicholas Moore.</p>
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<p>Mercantile owns almost 20 per cent of YBR.</p>
<p>It pitched its bid at 9 cents cents per share, a 3 per cent discount to where the stock was then trading.</p>
<p>YBR shares are well down from their most recent peak of 17 cents in October last year.</p>
<p>After Bouris rejected the takeover as “grossly inadequate," YBR’s shares rose 10 per cent to 11 cents.</p>
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j.ballantyne1990-6AQqhLzZaK

Macquarie departs YBR

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<p>The Mark Bouris-led Yellow Brick Road Holdings has attracted the attention of an offshore-based suitor.</p>
<p>The Australian Financial Review's Street Talk suggested financial services group Squirrel was the potential acquirer of Yellow Brick Road.</p>
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<div class="related-quotes section">But it pointed out it would not be an easy proposition as Macquarie Group, Nine Entertainment and Bouris all hold large stakes and may not be sellers.</div>
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<div class="related-quotes section">The column advised no approach had been made to the board of the mortgage broking and financial advice group.  
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<p>Local stockbroking firms, including Blue Ocean Equities, and private equity giant Apollo Global Management are among those approached to get involved in a potential move on Yellow Brick Road. </p>
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<p>The company delivered its maiden profit for the 12 months ended June 2017 when the company's underlying loan book grew 17 per cent to $44.1 billion over the year.</p>
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