Bouris' new business looks set to expand
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A financial institution run by Mark Bouris is expected to make an announcement relating to a possible major funding arrangement with Macquarie Group.
Yellow Brick Road, a wealth management business established in 2007, has been in talks with Macquarie about gaining access to the investment group's balance sheet to fund home and business loans, Fairfax Media reported on Wednesday.
Yellow Brick Road has 120 branches across Australia, and its major shareholders include Mr Bouris and owner of the Nine Network, the Nine Entertainment Company.
The company's shares entered a trading halt on Wednesday after the company said it was set to make an announcement about the reported deal.
"Yellow Brick Road Holdings Limited is aware of media speculation concerning a potential distribution deal with a major Australian financial institution," it said in a statement to the Australian Securities Exchange (ASX).
"The company expects to make an announcement in respect of this speculation before the commencement of trading on Friday, 9 November 2012."
Yellow Brick Road provides home loans, commercial loans, financial planning, insurance, superannuation, investments, accounting and tax advice.