Askume, Sept. 13 – Investment firm Ares Management Corp(ARES.N) is in advanced talks to acquire GLP Capital Partners’ business outside China, Bloomberg reported on Friday, citing people familiar with the matter.
The report said the deal could involve an upfront payment of about $3.5 billion and the total value could rise to about $5 billion over time if certain targets are met.
Ares has expanded its regional presence in Asia in recent years through a number of acquisitions, including alternative asset manager SSG Capital and private equity firm Crescent Point Capital.
Ares is considering using a combination of cash and shares to finance the deal with GLP, the report said.
Ares shares rose about 2% following the report.
Ares and GLP did not immediately respond to Askume requests for comment.
