Australian firm Perpetual has entered into a scheme implementation deed with an affiliate of Kohlberg Kravis Roberts & Co., which will by 100 percent of the two businesses, Wealth Management and Corporate Trust, via a Scheme of Arrangement, for total cash consideration of A$2.175 billion ($1.4 billion).
Reuters reported Perpetual had confirmed it was in exclusive talks with the U. S.-based buyout firm over a sale of its corporate trust and wealth management business in April.
The official announcement can be found here.