(Adds details of the deal in paragraph 2-3)
May 8 (Reuters) - Australia's Perpetual (PPT) said it signed a scheme implementation deed with an affiliate of global investment firm KKR & Co KKR.N for the sale of its corporate trust and wealth management businesses for A$2.18 billion ($1.44 billion).
"Board has determined that becoming a pure-play global Asset Management business through a demerger, combined with the separation of the Wealth Management and Corporate Trust businesses, will provide superior value for shareholders," Perpetual said in an exchange filing on Wednesday.
The deal will make the company "a leaner, debt-free, global, multi-boutique Asset Management firm managing A$227 billion in assets under management," it added.
($1 = 1.5170 Australian dollars)
News: PPT UPDATE 1-KKR affiliate to acquire 2 units of Australia's Perpetual for $1.4 bln
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$19.93 |
Change
0.090(0.45%) |
Mkt cap ! $2.302B | |||
| Open | High | Low | Value | Volume |
| $20.00 | $20.14 | $19.77 | $1.122M | 56.19K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 47 | $19.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.94 | 57 | 6 |
View Market Depth
| Last trade - 11.16am 09/09/2025 (20 minute delay) ? |
| PPT (ASX) Chart |