June 22, 2018 / 12:33 AM / 5 months ago

Australia's AMA Group calls off Blackstone deal after tax ruling

June 22 (Reuters) - Australia's AMA Group said on Friday it has halted a deal to sell its vehicle panel repair arm to Blackstone Group for A$508 million ($375 million) following an unfavourable ruling from the Australian Taxation Office.

AMA, which had announced the deal in April, said no break fees would be payable.

$1 = 1.3557 Australian dollars Reporting By Rushil Dutta in Bengaluru

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