Australia's AMA Group halts Blackstone deal after tax ruling

Australia's AMA Group halts Blackstone deal after tax ruling

Blackstone Group LP headquarters stands in New York, U.S., on Friday, April 14, 2017. Photograph: Victor J. Blue/Bloomberg

Australia’s AMA Group said on Friday it has halted a deal to sell its vehicle panel repair arm to Blackstone Group for A$508 million ($375 million) following an unfavourable ruling from the Australian Taxation Office.

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