My understandding is that Macquarie Group has said it does not expect the fee from Macquarie Airports to be material to its profitability. Analysts are forecasting a 2010 profit of about $1 billion for Macquarie Group, irrespective of the deal going ahead or not.
From the Age a month ago: "Macquarie Group sources also suggest any gain booked on the deal may have to be offset by Macquarie Group writing down its large stake in MAp to reflect the deal's price of $2.30 a unit, although this approach has not been confirmed."
Today the share price is $2.83, therefore they would be minimal writedowns, in any. I think MQG break even on their holding is around $2.75
MAP Price at posting:
$2.80 Sentiment: Hold Disclosure: Not Held
