Business
AMP says ‘no certainty’ over Ares deal, CEO to stay – Sydney Morning Herald
AMP’s deal with US investment house Ares remains up in the air after the 30-day exclusivity period concluded with no deal reached.
AMP has failed to secure a binding agreement with US investment firm Ares for the second time in six months, amid growing speculation over the leadership of the wealth giant.
AMP signed a non-binding agreement in February to carve out AMP Capitals private markets business and sell 60 per cent to Ares for $1.35 billion. Now, this offer has lapsed and while AMP has said negotiations are ongoing, the door is once again open for new suitors to step forward.
AMP chief Francesco De Ferrari. The wealth…
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