Money Makers Mentor

Ares Management in Talks to Acquire AMP

Ares Management is in talks to acquire AMP. The Australian wealth manager has been known for scandal and controversy in recent years. This includes a sexual harassment scandal. As a result, this deal comes only a few weeks after AMP put itself up for sale. The deal values AMP at over $5 billion. Debt is not a factor in this value. This is the first Australian- based purchase for Ares Management. John Knox is heading the deal. He is the former Credit Suisse Australia chief executive.         

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Deborah Hazelton heads the new board, along with chief executive Francesco De Ferrari. Since the deal is ongoing, AMP cannot comment at this time.

In an official 8-K filing, Ares Manage…

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