July 2 (Reuters) - Challenger Ltd CGF.AX :
* Challenger sells kapstream & enters distribution agreement CGF.AX
* Deal for $45 million.
* Announced the sale of its 25% equity interest in Kapstream Capital Pty Limited, to Janus Capital
* Will recognise a $40 million pre-tax profit from the sale of its 25% equity interest in Kapstream
* Says profit on sale recognised in the 2016 financial year for co
* Following the sale, Fidante Partners will no longer receive equity distributions from Kapstream
* Says over the medium term, Fidante Partners' normalised earnings are not expected to be negatively impacted
* Source text for Eikon ID:nASX5hQKP1
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