SYDNEY Terra Firma founder and chairman Guy Hands is leading a consortium to buy the firm's Australian cattle company, Consolidated Pastoral Co (CPC), off its funds in a management buyout, CPC's chief executive Troy Setter said on Wednesday.
Private equity giant KKR & Co and its partners cancelled what was to be Australia's biggest listing of the year, lender Latitude Financial, because investors would not pay a price that reflected its value, the Latitude CEO said on Wednesday.
Oct 15 U.S. private equity firm KKR & Co
and its partners have cancelled what was expected to be the
biggest Australian IPO of the year, the listing of their lender
Latitude Financial, two sources told Reuters.
SYDNEY Australia's banking regulator on Tuesday said it plans to ask lenders to meet higher capital levels domestically to offset their exposure to large overseas units - a move that comes in response to plans by New Zealand to hike capital ratios for the sector.
MELBOURNE The Australian government has ordered the competition watchdog to investigate why banks failed to fully pass on three official interest rate cuts this year, but investors shrugged off the new probe after a series of inquiries into the sector.
SYDNEY U.S. private equity firm KKR & Co and its partners have lowered the IPO price of their Australian non-bank lender, Latitude Financial, by up to 20.9% ahead of its expected listing on Friday, two sources told Reuters.
SYDNEY Australia's banking regulator said on Wednesday it will ask financial institutions for annual declarations on governance and corporate culture, and will conduct "deep dive" reviews if concerns arise.
SYDNEY Australian buyout firm Crescent Capital Partners is looking to sell a water pipeline manufacturer it bought in 2015, two sources told Reuters, aiming to tap increased offshore interest in water infrastructure.
SYDNEY The life insurance arm of Australia's biggest bank was charged on Friday with dozens of breaches of a law banning sales staff from cold calling customers to sell financial products, in a sign that regulators are cracking down on misconduct in the sector.