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Search resuls for: "Harish Sridharan"


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☆ Australian fintech firm Airwallex raises $100 mln, retains $5.5 bln valuation
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +1 min
Oct 11 (Reuters) - Australian fintech company Airwallex said on Tuesday it raised $100 million in an extension of a funding round, sustaining its $5.5 billion valuation. The Melbourne-based company said it secured more funds from existing investors, including Tencent Holdings Ltd (0700.HK), Sequoia Capital China and Lone Pine Capital. Australian industry superannuation fund HostPlus and a North American pension fund also participated in the round, Airwallex said. Register now for FREE unlimited access to Reuters.com RegisterWith the $100 million raised in the Series E extended round, Airwallex's total funding increased to more than $900 million, the company said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan and Baranjot Kaur in Bengaluru; Editing by Tom Hogue and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
☆ KKR-led $13 bln buyout of Australia's Ramsay Health collapses
  + stars: | 2022-09-26 | by ( Byron Kaye Harish Sridharan | Byron Kaye | Harish Sridharan | ) www.reuters.com   time to read: +2 min
Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Aug. 23, 2018. Register now for FREE unlimited access to Reuters.com RegisterCentral banks around the world meanwhile had jacked up interest rates - and borrowing costs - amid raging inflation. Then last month Ramsay said the KKR-led group had notified it that it would not improve on what Ramsay considered a "meaningfully inferior" offer, due to the target company's weak business performance. A spokesperson for the KKR-led consortium told Reuters in a statement: "Following recent engagement with the Ramsay Board, we have decided to mutually terminate discussions regarding a potential change of control transaction". The stock was last trading at A$57.64, one-third below the initial indicative buyout price which Ramsay's biggest shareholder had supported.
☆ Australia's Ramsay Health and KKR-led group cease buyout talks
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterTrading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Aug. 23, 2018. REUTERS/Brendan McDermid/File PhotoSept 26 (Reuters) - Australia's Ramsay Health Care (RHC.AX) and a consortium led by KKR & Co (KKR.N) will cease discussions on a non-binding buyout proposal, the hospital operator said on Monday. Register now for FREE unlimited access to Reuters.com RegisterFor investors with larger stakes, the offer was split into A$78.20 per share in Ramsay and 0.22 share in French subsidiary Ramsay Generale de Sante (GDSF.PA). The consortium recognized that further engagement and access to further due diligence may provide some positive visibility, Ramsay said on Monday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan in Bengaluru; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.
☆ AMP handed $9.7 mln penalty for charging pensioners 'fees for no service'
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterThe logo of AMP Ltd, Australia's biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. Picture taken May 5, 2017.REUTERS/David Gray/File PhotoSept 20 (Reuters) - Wealth manager AMP Ltd (AMP.AX) was handed a penalty of A$14.5 million ($9.74 million) on Tuesday by Australia's Federal court for charging customers with 'fees for no service' on their corporate pension accounts. Between July 2015 and September 2018, AMP entities deducted A$356,188 in fees even though they were aware that the members had ceased their employment and could no longer receive advice services, the court found. The penalty received on Tuesday has already been provisioned in the 2022 half-yearly financial statement, AMP said. ($1 = 1.4890 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan in Bengaluru; Editing by Dhanya Ann Thoppil and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
☆ AMP handed $9.7 million penalty for charging pensioners 'fees for no service'
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterThe logo of AMP Ltd, Australia's biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. Picture taken May 5, 2017.REUTERS/David Gray/File PhotoSept 20 (Reuters) - Wealth manager AMP Ltd (AMP.AX) was handed a penalty of A$14.5 million ($9.74 million) on Tuesday by Australia's Federal court for charging customers with 'fees for no service' on their corporate pension accounts. Between July 2015 and September 2018, AMP entities deducted A$356,188 in fees even though they were aware that the members had ceased their employment and could no longer receive advice services, the court found. "Although AMP has remediated A$691,032 to affected customers, the court found AMP failed to investigate whether or not there was a systemic issue, despite many complaints over a lengthy period of time," ASIC said. The penalty received on Tuesday has already been provisioned in the 2022 half-yearly financial statement, AMP said.
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