Image Source: © Joykid9940 | Megapixl.com
- AMP Limited and Dexus confirm that they are holding talks concerning the potential sale of the assets and businesses of Collimate Capital (earlier AMP Capital).
- Today AMP shares were spotted trading 0.66% higher at AU$1.070 per share on ASX at 10.42 AM AEST.
- Dexus shares traded 0.371% higher at AU$10.820 per share on ASX at 10:41 AM AEST.
The shares of AMP Limited (ASX:AMP) were in focus on Tuesday (19 April 2022) after the company confirmed that it is in discussions with multiple parties, including Dexus, concerning the potential sale of the assets and businesses of Collimate Capital (earlier AMP Capital).
AMP shares were spotted trading 0.66% higher at AU$1.070 per share on ASX at 10.42 AM AEST today. The share price of AMP Limited has fallen 9.58% in the last one year, while the stock is up 6.70% year-to-date.
AMP Limited is an ASX-listed blue-chip wealth management company. The four divisions via which the company operates include AMP Bank, Australian wealth management, New Zealand wealth management and AMP Capital. The company has a market capitalisation of AU$3.42 billion.
The announcement came after several media reports had hinted that AMP was holding discussions to sell Collimate to streamline its business.
The financial services company has said that its discussions will continue to maximise the value for its shareholders. The fund manager added that as these discussions continue, the company remains in a position to pursue either a sale or demerger of the aforesaid businesses.
The AMP Capital managed property funds comprise - a shopping centre fund, its approximately AU$7 billion office tower fund that has stakes in Sydney’s Quay Quarter Tower & Melbourne’s Collins Place. Overall, the managed property funds are somewhat around AU$24 billion in real estate. AMP Capital also has stake in Melbourne and Launceston airports.
Image Source: © 8vfand | Megapixl.com
Meanwhile, Dexus (ASX:DXS) has also confirmed that it is holding talks with AMP regarding a possible transaction of its Australian real estate and infrastructure equity businesses.
DEXUS Property Group (ASX:DXS) is an ASX-listed real estate firm. Following this news, Dexus shares traded 0.371% higher at AU$10.820 per share on ASX at 10:41 AM AEST. The company has a market capitalisation of AU$11.59 billion.
The plans for a spin-off of AMP capital have been on the table for more than a year now, given the financial troubles that have likely impacted the operations of 172-year-old company.
Read More: ASX 200 opens in green; Allkem leads gains
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and