Australia's AMP ends asset sale talks with Ares, opts for spin-off instead

Australia's AMP ends asset sale talks with Ares, opts for spin-off instead

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

Embattled Australian wealth manager AMP Ltd has ended protracted talks with Ares Management Corp to sell its asset management arm’s private markets business, instead on Friday announcing it will spin off and re-brand the unit.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter