Australian funds manager Perpetual has agreed to sell its corporate trust and wealth management units to private equity firm KKR in a significant deal valued at approximately $1.43 billion. The transaction also includes the sale of Perpetual's name. This strategic move comes as Perpetual's CEO, Adams, announces his retirement. The deal has been reported by multiple sources including the Australian Financial Review, which notes the overall value of the transaction could be around $2.18 billion, with some components of the deal valued at $990 million and $1.4 billion.
Perpetual confirms $2.18bn sale to KKR https://t.co/PdcTJrGCRe
KKR to buy Perpetual's corporate, wealth units for $1.4 bln; CEO Adams to retire https://t.co/kRSJt4QxS8 https://t.co/ktr6VifpfL
Australian funds manager Perpetual agreed to a deal with private equity firm KKR for a sale of its wealth management and corporate trust units for $1.43 billion https://t.co/q9OHpAkwsN
Perpetual to be broken up with name being sold to KKR in nearly $1 bln deal, AFR reports https://t.co/pEU29D3EJB https://t.co/XEGwVbS0hr
⚠️ PERPETUAL TO BE BROKEN UP WITH NAME BEING SOLD TO KKR IN NEARLY $1 BILLION DEAL, AFR REPORTS Full Story → https://t.co/KG8LGbg0jK Australia's Perpetual will be broken up, with its name sold to global investment firm KKR (and) Co, in a deal worth over A$1.5 billion ($990… https://t.co/Z0VdymRQEB
KKR is set to buy Perpetual's name, along with its corporate trust and wealth management businesses, in a deal worth over $990 million, the Australian Financial Review reports https://t.co/a39LGr9i6x