Feb 24 (Reuters) - Australia's Perpetual Ltd ( PPTTF ) on

Monday said it has ended talks with KKR for the sale of

its wealth management and corporate trust units, while

confirming plans to pursue a sale of its wealth management

business separately.

The deal with KKR, which was initially announced in May last

year, was deemed to be not in the best interests of shareholders

by an independent expert.

"Board has determined that the value and terms of those

revised proposals, including the various conditions included,

were not in the best interests of shareholders and discussions

have now ended," the company said in a statement.

Perpetual, a fund manager, added it was "determined to

pursue a sale of the wealth management business".

KKR did not immediately respond to a Reuters request for

comment.

An A$2.2 billion ($1.40 billion) deal with buyout firm KKR

for the businesses had been on the back burner over the past two

months after Perpetual received a much higher-than-expected tax

bill.