11:13 AM EDT, 09/13/2024 (MT Newswires) -- Ares Management ( ARES ) is holding advanced talks with GLP Capital Partners on a deal that would see Ares acquire GLP's operations outside of China, Bloomberg reported, citing people familiar with the matter.

The two companies are finalizing the details of a transaction that would feature a roughly $3.5 billion upfront payment with the possibility of additional payments of about $1.5 billion over time if certain targets are reached, some of the people reportedly told Bloomberg.

Ares didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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