Jarden Group’s shareholders overwhelmingly voted in favour of selling its New Zealand-based wealth and asset management business, providing much-needed capital into the business, and a greater share of cash for its Australian investment bank.
Almost all the firm’s shareholders green-lit the transaction, which combines Jarden Wealth and its Harbour Asset Management arm, with NAB’s JBWere NZ and BNZ Investment Services units in a new entity called FirstCape.
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Aaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
