that discusses whether IOOF is seeking to divest it's trustee business. AET accounts for just 5% of revenue and a sale could provide IOOF with approx $200m. It would seem, based on the article, that IOOF has tried to grow the business through M&A over the years but has not been successful, and so is now thinking that it is sub size and a better move would be to sell it to someone who can "bulk up" and get the synergies.
It would be interesting to see what IOOF would do with the cash, if it sold AET. It is certainly in an acquisitive mood and the cash on the balance sheet may help it to look for other opportunities.
HT1
IFL Price at posting:
$8.10 Sentiment: Hold Disclosure: Held
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