KKR to Buy Some Perpetual Assets in $990 Million Deal, AFR Reports
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KKR & Co. is set to buy Perpetual Ltd.’s name, along with its corporate trust and wealth management businesses, in a deal worth over A$1.5 billion ($990 million), the Australian Financial Review reported, citing unidentified people familiar with the process.
The Australian money manager will continue as a pure-play funds management business under a new name, according to the AFR. It is expected to use the proceeds from the KKR sale to pay debt and tax, with some capital likely left to return to shareholders, the AFR said.