Macquarie Bank mixed in David Jones saga
(5 July 2012 – Australia) Macquarie Bank has been caught up in the farcical takeover offer for David Jones – as the "co-ordinating institution" that was meant to be advising the mysterious bidder for the department store chain.
Over the weekend, letters emerged that had been sent by John Edgar, the Scot who made the A$1.65 billion offer for David Jones through an unregistered British company called EB Private Equity.
One letter had blacked out the name of the principal co-ordinating institution organising the debt financing. It can be revealed that Macquarie Bank was the hidden name.
Macquarie has since informed BusinessDay it was at no time an adviser to EB Private Equity.
A bank spokesman confirmed it had been approached by a person claiming to be from EB Private Equity and who was interested in buying David Jones.
Macquarie told the inquirer it needed to establish bona fides and these were never forthcoming and that was the last contact. At no stage did Macquarie take EB Private Equity seriously.
One letter had blacked out the name of the principal co-ordinating institution organising the debt financing. It can be revealed that Macquarie Bank was the hidden name.
Macquarie has since informed BusinessDay it was at no time an adviser to EB Private Equity.
A bank spokesman confirmed it had been approached by a person claiming to be from EB Private Equity and who was interested in buying David Jones.
Macquarie told the inquirer it needed to establish bona fides and these were never forthcoming and that was the last contact. At no stage did Macquarie take EB Private Equity seriously.
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