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KKR to buy Perpetual’s Corporate Trust, Wealth Management Units for $1.4b
Other - MAY 8, 2024

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KKR to buy Perpetual’s Corporate Trust, Wealth Management Units for $1.4b

by Andrea Zander

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.

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