Business
AMP (ASX:AMP) selling assets too cheaply warns Macquarie
The AMP Ltd (ASX: AMP) share price is under a cloud as a broker warns that it’s selling assets too cheaply.
The news puts AMP shareholders between a rock and a hard place, and I’ll explain why in a moment.
It was the analysts at Macquarie Group Ltd (ASX: MQG) that was sounding the alarm when it looked at the proposed joint venture (JV) between AMP and Ares Management Corp Class A (NYSE: ARES).
AMP’s crown jewels going for a song
The broker found that AMP may be selling a majority stake in its prized private market business at around a whopping 25% discount to Ares!
The business, which forms part of the AMP Capital division, is estimated to generate 91% of divisional earnings before interest and tax (EBIT), according to…
-
Noosa News14 hours agoQueensland coroner investigates ‘extremely unusual’ deaths of premature twin boys
-
General17 hours agoReuven Morrison was killed in the Bondi Beach shooting one year after warning about antisemitism
-
General17 hours agoNT’s top year 12 achievers celebrated, with some looking to pursue teaching careers
-
Noosa News16 hours agoUpdate: Attempted murder charges, Maroochydore