Business
AMP ends Ares talks with no deal, Boe Pahari to leave – Sydney Morning Herald
AMP has ended its sale process without signing a deal with US investment firm Ares. It will spin off and separately list AMP Capital’s private markets business,…
AMP has failed to seal a deal with US investment firm Ares but will instead spin off and separately list AMP Capitals private markets business, with controversial executive Boe Pahari to leave the company.
AMP announced on Friday that AMP Capitals private markets business will be spun off and likely listed on the ASX under a new board, independent management and fresh branding. AMP will retain a 20 per cent stake in the business and Mr Pahari will resign.
AMP said it would manage its private markets…
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