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    AMP   AU000000AMP6

AMP LIMITED

(AMP)
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Delayed Australian Stock Exchange  -  02:10 2022-08-12 am EDT
1.130 AUD   -2.16%
08/11AMP Limited authorizes a Buyback Plan.
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08/10AMP Limited Declares Quarterly Dividend for the Period Ending September 15, 2022, Payable on September 16, 2022
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08/10AMP's Net Profit Soars 229% in January to June
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AMP-Completion of Collimate Capital sales on track

07/01/2022 | 04:01am EDT

Following commentary in the market, AMP Limited today provided an update on the sale of the Collimate Capital domestic infrastructure equity and real estate business to Dexus Funds Management Ltd (Dexus) and the sale of the international infrastructure equity business to DigitalBridge Group, Inc. (DigitalBridge).

As required by the sale agreements, AMP continues to work closely with Dexus and DigitalBridge to ensure the smooth transition of the businesses, including the transfer of applicable legal entities, business assets, systems and employees, which will provide stability for clients, employees and partners.

Based on substantial progress to date, both transactions remain on track to complete during 2H 2022:

For the sale to Dexus, completion is currently anticipated for the end of September 2022; and

For the sale to DigitalBridge, completion is currently anticipated by the end of November 2022.

Both transactions are continuing to progress towards meeting the relevant conditions precedent outlined in the respective sale announcements of 27 April 2022 and 28 April 2022.

The outcome of the forthcoming unitholder vote on management of the AMP Capital Wholesale Office Fund (AWOF) will not impact the expected completion of the sale to Dexus. AMP believes it and Dexus have put forward a compelling proposal for clients, and that the combined platform of AMP Capital and Dexus represents the best outcome for AWOF and its unitholders, bringing the combined experience of both groups together to deliver a superior outcome for investors.

Authorised for release by the Market Disclosure Committee.

Contact details

Brett Zarb

+61 417 256 563

Brett_Zarb@amp.com.au

Contact details

Mark Roberts

+61 (0) 466 328 581

Mark_Roberts@amp.com.au

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -2.16% 1.13 Delayed Quote.14.36%
DEXUS -0.87% 9.16 Delayed Quote.-16.91%
All news about AMP LIMITED
08/11AMP Limited authorizes a Buyback Plan.
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Analyst Recommendations on AMP LIMITED
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Financials
Sales 2022 1 519 M 1 081 M 1 081 M
Net income 2022 - - -
Net Debt 2022 25 741 M 18 319 M 18 319 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 3 688 M 2 625 M 2 625 M
EV / Sales 2022 19,4x
EV / Sales 2023 24,5x
Nbr of Employees 4 826
Free-Float 99,0%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 1,16 AUD
Average target price 1,12 AUD
Spread / Average Target -3,15%
EPS Revisions
Managers and Directors
Alexis George Chief Executive Officer & Director
James Georgeson Chief Financial Officer
Debra Hazelton Chairman
Felicia Trewin Chief Technology Officer
Rod Finch Director-Superannuation, Retirement & Investments
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