If AMP chairman Debra Hazelton was hoping long-suffering AMP shareholders would leave Friday’s annual general meeting with no clearer understanding of the company’s proposal to demerge its real estate and infrastructure private markets business, then she achieved her ambition admirably.
In the first place, Hazelton refused to elucidate the reasons why, just over a week ago, the AMP board peremptorily decided to break off discussions with Los Angeles-based Ares Management Corporation regarding the potential sale of the real estate and infrastructure businesses.
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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com
