Chanticleer
AMP’s clever deal to gain global reach
After three years of deal making including selling AMP Life and failing to sell itself, AMP has struck a $3 billion deal with Ares Management to turbocharge its exposure to infrastructure asset management.
AMP chief executive Francesco De Ferrari realised during the company’s portfolio review that AMP Capital needed scale and reach in order to maximise value for shareholders.
He had two choices. Either buy another fund manager, which was the option pursued by Perpetual with the purchase of US fund manager Barrow Hanley, or get there through organic growth.
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