AMP Ltd has agreed a deal to sell a 60 percent stake in AMP Capital to Ares Management Corporation for A$1.35 billion ($1.06 billion; €871.7 million), reports sister title Infrastructure Investor.
The Australian Securities Exchange-listed parent of AMP Capital announced the deal to shareholders today. It described the deal as a “joint venture partnership” covering AMP Capital’s private markets businesses of infrastructure equity and infrastructure debt, real estate and other minority investments.
