It’s Jarden vs TA Associates/Fisher Funds in the auction for New Zealand retirement savings manager Kiwi Wealth.
Sources said auctioneer Goldman Sachs asked the final two bidders to reconfirm their offers on Tuesday, ahead of a decision to anoint one as the buyer.A signed deal is expected imminently.that came to a head when binding bids were submitted last weekKiwi Wealth received bids from Jarden, TA Associates/Fisher Funds and a third strategic player, Booster, however it is understood Booster dropped out of the race at the start of this week.
Kiwi Wealth is a default KiwiSaver provider, with about $NZ9 billion in its scheme, making it a substantial player in the country’s retirement savings market. Both Jarden and Fisher Funds have interest in the sector. Kiwi Wealth is owned by New Zealand Post and institutional investors NZ Super and Accident Compensation Corporation as part of Kiwi Group Holdings.
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