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ASX 200 drops over 1% – The Motley Fool Australia
The S&P/ASX 200 Index (ASX:XJO) fell over 1% today. Magellan Financial Group Ltd (ASX:MFG) announced a major investment.
The S&P/ASX 200 Index (ASX: XJO) fell by 1% today to 6,600 points.
Here are some of the highlights from the ASX:
Magellan Financial Group Ltd (ASX: MFG)
Magellan announced it’s buying a 10% stake in GYG for $86.8 million. GYG is an Australian based quick service restaurant chain specialising in made to order, fresh Mexican food with 147 restaurants across Australia, Singapore, Japan and the US.
GYG is led by founder and CEO Steven Marks as well as chairman Guy Russo, who used to be the CEO of McDonalds…
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