M&A
confidence high
sentiment positive
materiality 0.85
AMG to sell BPEA stake to EQT for $1.1B; retains future carried interest
AFFILIATED MANAGERS GROUP, INC.
- Total consideration $1.1B: $240M cash + 28.68M EQT shares; retains future carry in certain funds.
- AMG acquired its 15% BPEA interest for $187.5M in 2016; expects ~$35M EBITDA contribution in 2022.
- Transaction expected to close Q4 2022, subject to customary conditions; six-month lock-up on 25% of EQT shares.
- After closing, AMG plans to use ~40% of gross proceeds for taxes/debt, 60% for growth investments and buybacks.