AMP and Ares have failed to come to a conclusive agreement at the end of an exclusivity period to explore the partial sale of AMP Capital’s private markets business.
AMP and Ares entered into the 30-day exclusivity period to explore a 60 per cent sale of AMP Capital’s private markets business. The exclusivity period has now ended, with no conclusive agreement in sight.
“AMP and Ares continue to work towards a potential transaction and Ares has expressed interest in acquiring 100 per cent of the private markets businesses,” AMP said.
“There is no certainty that a transaction will proceed, or the terms, size or structure on which it would proceed. Any transaction would remain subject to approval of AMP shareholders.”