Commonwealth Bank of Australia said on Wednesday it will sell a 55% stake in unit Colonial First State to private equity firm KKR for A$1.7 billion ($1.10 billion), in line with plans to focus on its core banking operations.
Australia’s largest bank and KKR also plan to undertake an investment programme. CBA said the deal would allow Colonial First State to become a more focused standalone business.Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Himani Sarkar.
Australia’s largest bank and KKR also plan to undertake an investment programme. CBA said the deal would allow Colonial First State to become a more focused standalone business.Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Himani SarkarDeutschland Neuesten Nachrichten, Deutschland Schlagzeilen
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