Colonial First State seeking the support of the world’s largest asset manager

SYDNEY (CU)_In March last year, the Commonwealth Bank of Australia (CBA) announced that it had entered into an agreement with global investment firm KKR, to sell 55 per cent interest in its wealth management group Colonial First State (CFS). According to a statement issued by KKR, the transaction implies a $3.3 billion total valuation for CFS on a 100 per cent basis, which would result in CBA receiving cash proceeds of approximately $1.7 billion.   

Now, CFS prepares to separate from…