Barrenjoey Capital Partners entered into an agreement to acquire 11.6% of Guzman y Gomez Pty Ltd from Magellan Financial Group Limited (ASX:MFG) for AUD 146 million on May 9, 2022. Under the terms, AUD 140 million will be paid in cash with provision for a further payment of up to AUD 6 million subject to the performance of Guzman y Gomez Pty Ltd and the realisation of the investment by the trust. The transaction is subject to the completion of a pre-emptive rights process under the GYG shareholders' deed which provides GYG shareholders with the right to purchase Magellan's shares on the same terms and is expected to complete in two tranches occurring in June and July 2022. Proceeds will be used to support Magellan's ongoing capital management initiatives.

Barrenjoey Capital Partners completed the acquisition 11.6% of Guzman y Gomez Pty Ltd from Magellan Financial Group Limited (ASX:MFG) for AUD 146 million on June 24, 2022.