Reported 2 days ago
Perpetual's stock fell nearly 10% after the Australian Tax Office revealed that the tax liabilities from its sale of wealth management and corporate trust businesses to KKR & Co were much higher than initially expected. The ATO declined to confirm that the tax benefits from the deal would remain intact, projecting potential tax duties to be between A$493 million and A$529 million, significantly more than the original estimate. This has raised concerns about the viability of the transaction and its potential impact on shareholder interests.
Source: YAHOO