Deals
A $90 Billion Danish Fund Refuses to Do Deals With Macquarie
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PFA, which oversees about $90 billion in assets, is refusing to enter new deals with Macquarie Group Ltd. amid a national campaign in Denmark to fight financial misconduct.
Macquarie is one of a number of banks being investigated by German authorities in connection with alleged dividend tax fraud. In November, Danish Tax Minister Karsten Lauritzen said his country was also looking at the Australian firm’s conduct. That came amid a broader crackdown on tax fraud in Denmark after offshore financiers stole almost $2 billion from state coffers in a fraudulent rebate scheme.