Perpetual's Sale Terms Look More Reasonable Than Attractive -- Market Talk

Dow Jones

Mar 16

2355 GMT - Perpetual's sale of its wealth business to Bain Capital is on terms that look reasonable rather than overly attractive to the Australian investment manager, Citi analyst Nigel Pittaway says. Perpetual will sell its 139-year-old franchise to the private-equity provider for an initial A$500 million, but Pittaway points out that it will also incur A$30 million in costs plus a tax liability of at least A$45 million. On the other hand, he tells clients in a note that Perpetual could also receive earn-outs of up to A$75 million. He adds that the sale resolves a key issue by allowing Perpetual to pay off some debt. Citi has a last-published neutral rating and A$19.70 target price on the stock, which is up 0.7% at A$16.35. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 15, 2026 19:55 ET (23:55 GMT)

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Perpetual will sell its 139-year-old franchise to the private-equity provider for an initial A$500 million, but Pittaway points out that it will also incur A$30 million in costs plus a tax liability of at least A$45 million. On the other hand, he tells clients in a note that Perpetual could also receive earn-outs of up to A$75 million. He adds that the sale resolves a key issue by allowing Perpetual to pay off some debt. Citi has a last-published neutral rating and A$19.70 target price on the stock, which is up 0.7% at A$16.35. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 15, 2026 19:55 ET (23:55 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Perpetual's Sale Terms Look More Reasonable Than Attractive -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPerpetual's Sale Terms Look More Reasonable Than Attractive -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-16 07:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2355 GMT - Perpetual's sale of its wealth business to Bain Capital is on terms that look reasonable rather than overly attractive to the Australian investment manager, Citi analyst Nigel Pittaway says. Perpetual will sell its 139-year-old franchise to the private-equity provider for an initial A$500 million, but Pittaway points out that it will also incur A$30 million in costs plus a tax liability of at least A$45 million. On the other hand, he tells clients in a note that Perpetual could also receive earn-outs of up to A$75 million. He adds that the sale resolves a key issue by allowing Perpetual to pay off some debt. Citi has a last-published neutral rating and A$19.70 target price on the stock, which is up 0.7% at A$16.35. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 15, 2026 19:55 ET (23:55 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7062","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2619861481","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2619861481","pubTimestamp":1773618900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2355 GMT - Perpetual's sale of its wealth business to Bain Capital is on terms that look reasonable rather than overly attractive to the Australian investment manager, Citi analyst Nigel Pittaway says. Perpetual will sell its 139-year-old franchise to the private-equity provider for an initial A$500 million, but Pittaway points out that it will also incur A$30 million in costs plus a tax liability of at least A$45 million. On the other hand, he tells clients in a note that Perpetual could also receive earn-outs of up to A$75 million. He adds that the sale resolves a key issue by allowing Perpetual to pay off some debt. Citi has a last-published neutral rating and A$19.70 target price on the stock, which is up 0.7% at A$16.35. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7062":"资产管理与托管银行","PPT.AU":"PERPETUAL LTD"},"translate_title":"Perpetual的销售条款看起来更合理而不是有吸引力——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PPT.AU":0.9},"content_text":"2355 GMT - Perpetual's sale of its wealth business to Bain Capital is on terms that look reasonable rather than overly attractive to the Australian investment manager, Citi analyst Nigel Pittaway says. Perpetual will sell its 139-year-old franchise to the private-equity provider for an initial A$500 million, but Pittaway points out that it will also incur A$30 million in costs plus a tax liability of at least A$45 million. On the other hand, he tells clients in a note that Perpetual could also receive earn-outs of up to A$75 million. He adds that the sale resolves a key issue by allowing Perpetual to pay off some debt. Citi has a last-published neutral rating and A$19.70 target price on the stock, which is up 0.7% at A$16.35. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 15, 2026 19:55 ET (23:55 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}