The wealth giant has revealed a US-based alternative investment manager has made an offer to acquire 100 per cent of its shares.
In a statement to the market on Friday, AMP confirmed that it had "received an indicative, non-binding, conditional proposal from Ares Management Corporation, a US-based company, to acquire 100 per cent of the shares in AMP Limited by way of scheme of arrangement".
"AMP notes discussions on the proposal are at a very preliminary stage and there is no certainty that a transaction will eventuate", the group said.
AMP said it continued to progress its portfolio review announced in September.
"AMP has received significant interest in its assets and businesses and is assessing a range of options in a considered and holistic manner, including continuing to pursue its three year transformation strategy, with a focus on maximising shareholder value," the group said.
Stimulate new ideas. Stimulate new thinking. Top up your CPD and hear from industry experts with InvestorDaily’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD. Explore the knowledge centre Knowledge Centre now.
Malcolm Turnbull believes Australia is in “real need” of listed clean energy companies for ESG funds to invest. ...
The government’s Financial Regulator Assessment Authority bill has passed in Parliament this week. ...