The agreement follows the announcement that Perpetual's CEO will be retiring
KKR has agreed to acquire the corporate trust and wealth management businesses of Perpetual for $2.175bn with Gilbert + Tobin’s (G+T) assistance.
This follows Perpetual’s announcement that CEO and managing director Rob Adams would be retiring, as reported by Reuters. With KKR picking up the corporate trust and wealth management businesses, Perpetual will continue as an asset management business.
G+T lead partner Alex Kauye said that the deal “sits alongside KKR’s investments in Arnott’s and Colonial First State as another example of KKR’s proven capability in complex carve-out transactions”. It is in line with the organisation’s strategy to extend its footprint in Australia, as well as other markets.
Kauye worked alongside the following lawyers on the transaction:
Corporate/M&A
Banking
Financial services regulation
Superannuation
Disputes and investigations
IP
Tax
Employment
