After nearly two and a half years of strategic reviews, takeover speculation and restructuring plans, Perpetual Limited has taken a decisive step to reshape its business.
The 140-year-old financial services firm has agreed to sell its wealth management division to Bain Capital for about $500 million, bringing an end to a prolonged corporate restructuring process that began in late 2023.
The transaction will allow Perpetual to reduce its debt load significantly while refocusing the company on its remaining core businesses.
Debt Reduction Becomes the Immediate Priority
Perpetual plans to use roughly $400. . .
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