Perpetual Limited has agreed to sell its wealth management arm to Bain Capital in a deal valued at AUD500m ($350m) upfront, as apart of a to strategy streamline its operations and focus on its core businesses, according to a report by Reuters
The transaction also includes potential additional payments linked to the business’s performance before completion, along with an earn-out of up to AUD50m tied to post-sale results from accounting and wealth operations.
The wealth management division genera...
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