Perpetual Limited completed the acquisition of Pendal Group Limited

Perpetual Limited (ASX: PPT) announced the completion of its acquisition of Pendal Group Limited. The company announced that all Pendal shareholders who held shares at 7.00 pm (AEDT) on 16 January 2023 will get the consideration mix, which includes a total of AU$1.65 cash per Pendal share held, less the Permitted Dividend Amount of 3.5 cents per share which was given to Pendal shareholders on 15 December 2022, and one Perpetual share for every seven Pendal shares.

The cash component of the offer, totaling AU$619 million, will be financed by a new debt facility. Based on preliminary unaudited financials for the half year ended 31 December 2022, the company anticipates its Underlying Profit After Tax for 1HFY23 to be in the range of AU$65 million to AU$70 million.

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