Beleaguered Australian wealth manager AMP is ending a terrible year on a bit of a high. Its shares are down 40% since the start of January; it ousted former Chief Executive Francesco De Ferrari in April and failed to sell first the entire company and then a 60% stake in its real-estate and infrastructure-investing division to Ares Management . New boss Alexis George, though, has managed to best her predecessor by striking a deal with the U.S. investment firm.
Granted, it’s only for A$7 billion of infrastructure debt, not majority ownership of the entire A$59 billion of assets managed by the PrivateMarketsCo unit that Ares was chasing earlier. But George, the former ANZ
deputy CEO who joined in August, has squeezed A$428 million, a decent 6% of assets, out of the buyer. AMP could earn up to A$150 million more, too, depending on how the funds perform under new ownership. The almost 7% Friday morning jump in AMP’s stock shows shareholders welcome the festive consolation prize.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lewis Hamilton Was Knighted By Prince CharlesThe Formula One star was recently denied a history-making eighth title, but adding “Sir” to his name might be an excellent consolation prize.
Weiterlesen »
Elon Musk and Jack Dorsey are talking about 'Web3' – here’s what it is and why it mattersTesla CEO Elon Musk and Twitter co-founder Jack Dorsey have been voicing their thoughts on a hypothetical new version of the internet this week: 'Web3'.
Weiterlesen »
Latto Gives Back to Young Moms in Need During ‘Latto 4 The Ladies & Babies’ Christmas EventFamilies were gifted meals, Black Santa merchandise, toys, Visa gift cards, filled stockings, free skating passes and more goodies at Georgia event.
Weiterlesen »
Here are all the Christmas shipping deadlines you need to knowStill Christmas shopping? Good news—you're not alone. Christmas shipping deadlines, the best gifts that don't require shipping and more tips to get you through last-minute gifting ⬇️
Weiterlesen »
Show Your Capricorn Some Appreciation With These 8 Perfect Gifts - E! OnlineWe've rounded up the best gifts to give the down-to-earth Capricorn in your life.
Weiterlesen »