06:27 AM EDT, 10/08/2024 (MT Newswires) -- Ares Management ( ARES ) said Tuesday it has agreed to acquire the international business of GLP Capital Partners and some of its affiliates, excluding its China operations, for $3.7 billion in cash and shares.

The deal includes about $1.8 billion in cash and $1.9 billion in Ares shares and includes performance incentives.

Ares said the acquisition will establish its real estate division's assets under management to approximately $96 billion and will be "modestly accretive" to its after-tax realized income per share.

The transaction is expected to close in H1 2025.