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…