Ares Management is in advanced talks on an acquisition of GLP Capital Partners’ operations outside of China, people familiar with the matter told Bloomberg’s Manuel Baigorri, Dawn Lim, Gillian Tan and Cathy Chan. Ares and GCP are finalizing details of a transaction that could be agreed as soon as the next few weeks and have been discussing a deal that would feature a roughly $3.5B upfront payment, with the total value climbing to around $5B over time if certain targets are hit, the sources said.
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