KKR to buy Perpetual’s corporate trust, wealth management units for $2.3b

KKR has agreed to buy Perpetual’s corporate trust and wealth management businesses in a deal worth around A$2.18 billion. (Image: WSJ)

The Wall Street Journal

Wed, 08 May 2024

By Alice Uribe SYDNEY— Perpetual has agreed to sell its corporate trust and wealth management businesses to buyout firm KKR in a deal worth around A$2.18 billion (NZ$2.3b).The Australian financial company said Wednesday that it had concluded a strategic review, which would see it become a stand-alone, global multi-boutique asset management business, with the sale of the separated corporate trust and wealth management divisions to unlock value for shareholders.Perpetual has entered into a scheme implementation deed with an affiliate o...

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