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News: AMA Australia's AMA Group calls off Blackstone deal after tax ruling

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    22/06/18
    10:30
    Post #: 33877659

    June 22 (Reuters) - Australia's AMA Group (AMA) said on Friday it has halted a deal to sell its vehicle panel repair arm to Blackstone Group BX.N for A$508 million ($375 million) following an unfavourable ruling from the Australian Taxation Office.

    AMA, which had announced the deal in April, said no break fees would be payable.

    ($1 = 1.3557 Australian dollars)

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