AMP withdraws from Ironstone acquisition
AMP has withdrawn from its bid to acquire a share of specialist residential property funds management group Ironstone.
Ironstone principal Sean Preece confirmed to Money Management this afternoon that negotiations with AMP which began in mid-February had been discontinued.
Preece said the company was now reviewing its options.
AMP is understood to have entered into the negotiations with Ironstone as part of a broader strategy to drive further into the self-managed superannuation funds advisory market allied to its recent acquisitions of both the Super IQ and Multiport businesses.
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