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Ares Management (NYSE: ARES) to Acquire GLP Capital’s Ex-China Business: Bloomberg

Ares Management (NYSE: ARES), the investment firm, has agreed to acquire asset manager GLP Capital Partners’ operations outside of China, Bloomberg News reported on Monday, citing people familiar with the matter.

Ares and GLP Capital are set to announce a deal as soon as Tuesday, the report said.

Last month, Bloomberg News reported that the deal might include an upfront payment of roughly $3.5 billion, and the total value could rise to around $5 billion over time if certain targets are hit.

Ares and GLP did not immediately respond to Reuters’ requests for comment.

(Source: Reuters)

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Maria Reed
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate.