Business
AMP reaches deal to sell 60 per cent of AMP Capital to US firm Ares – Sydney Morning Herald
AMP has entered into a non-binding agreement to spin off its private markets business AMP Capital to US investment firm Ares in a $2.25 billion joint-venture deal….
AMP said in a statement the joint venture would enable the private markets business to benefit from Ares brand, investment and distribution capabilities.
The proposed partnership would enable AMP shareholders to benefit from both the anticipated accelerated growth of private markets through its 40 per cent shareholding, as well as realising value from private markets growth to date, AMP said.
The two parties have entered a 30-day period of exclusivity to work towards a binding transaction. AMP said…
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