KKR looks to buy Link’s PEXA for $3b

28 May 2021
| By Jassmyn |
image
image
expand image

Superannuation administrator, Link Group has received an offer from Kohlberg Kravis Roberts and Co (KKR) to buy 44.18% of its property settlement business, PEXA. 

An announcement to the Australian Securities Exchange (ASX) said the proposal represented an enterprise value for 100% of PEXA at $3 billion plus cash on the balance sheet. Cash on the balance sheet as at 31 March, 2021 was $126 million. 

Link said it was considering the proposal but, as no decision had been made, both the trade sale process and exploration of the viability of an initial public offering continued to proceed. 

KKR also recently bought a 55% interest in Colonial First State (CFS). 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

6 minutes ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

4 hours 52 minutes ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

22 hours 56 minutes ago