Perpetual facing break-up as reports say KKR wins through
Perpetual Limited is reported to be facing being broken up with the company expected to announce to the Australian Securities Exchange today the terms of a transaction with major private equity player, KKR.
The reports say that the transaction, which has been on foot for weeks, will see Perpetual continue as a funds management business with KKR taking the firm’s corporate trust and wealth businesses.
The expected announcement is consistent with the outcome of a Strategic Review initiated by the Perpetual Board five months’ ago.
The transaction in regarded as in large measure reflecting market unease as Perpetual’s 2022 acquisition of funds management rival, Pendal.
KKR already has a solid foothold in the Australian financial services sector via its acquisition of Colonial First State from the Commonwealth Bank.
Yep in fact watch a stack of previously “signalled” changes take centre stage again j fear for the diagonal if…
No chance of a delay
Accountants need to learn that the primary purpose of superannuation is to fund the unions. Any delay to superannuation payments…
Wait until we tell the public about this new hidden cost. If the Government won't fully disclose this, it shows…
It seems BT are increasing their fees, not just for legacy accounts but also the fee linked accounts and compact…