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Link frontrunner for AAS
Just days after the Federal Government announced it would be proceeding with the sale of the third tranche of Telstra, the large telecommunications carrier is understood to be close to formally announcing the buyer for its superannuation administration asset, Australian Administration Services (AAS).
Telstra subsidiary Kaz sought expressions of interest in AAS earlier this year and it is understood that the former ASX Perpetual Registrars Limited, Link Market Services, has completed its due diligence on AAS.
Link, which is part of the Pacific Equity Partners Limited group, has no previous experience in superannuation administration, but over the past two years has acquired the share registry business of Pitcher Partners in Queensland and the employee share plan administration business of Mellon Human Resources and Investor Services.
A senior spokesperson for Kaz yesterday refused to comment on the progress in the sale of AAS.
AUTHOR
Mike Taylor
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