FKP parent company to Aveo is tipped to announce next week the pending departure of its CEO, Peter Brown, following the declining FKP listed unit trust price which is 66 per cent lower than net tangible asset backing. His salary of $2.3 million plus $675,000 bonus, given the slide in performance, is also a contention.
There is already rumour of a well known executive that will be his replacement.
Aveo is also up for a possible grab. FKP has announced a review to see if it can split out the retirement arm as a separate business to FKP to release cash. Stockland owns 14.5% of Aveo and has a first option to buy.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
