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0 0.00206872773244446 0.00218365705091366 0.00379266750948165 -0.00402252614641989 -0.00298816228019774 -0.0227560050568901 -0.00919434547753128
Stock impact report

Perpetual agrees to sell wealth management unit to Bain Capital [Yahoo! Finance]

KKR & Co. Inc. (KKR) 
Last kkr & co. inc. earnings: 1/31 06:50 am Check Earnings Report
US:NYSE Investor Relations: ir.kkr.com
Company Research Source: Yahoo! Finance
The deal will see Perpetual receive an initial payment of A$500m ($349m) upon completion, subject to adjustments for regulatory capital, working capital, and other standard factors. The agreement features potential additional payments, including an extra cash component linked to the performance of Perpetual's advice business before the sale closes. There is also an earn-out provision of up to A$50m, depending on the performance of the Accounting and Wealth operations within two years after completion. Under the terms of the transaction, Perpetual will provide Bain Capital with licences for the “Perpetual Wealth” and “Perpetual Private” brands for 15 years. Ownership of the broader “Perpetual” brand will remain with Perpetual Limited. The sale will be carried out through a transfer of all shares in Perpetual PWM Services Pty Ltd and is structured on a cash and debt-free basis. Proceeds from the sale will be used by Perpetual to reduce its debt and fund growth in its Asset Show less Read more
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