How are AMP’s (ASX:AMP) shares faring post Collimate Capital sale update?

3 min read | November 15, 2022 02:53 PM AEDT | By Tamnna

Image source: © Timonschneider | Megapixl.com

A glance at AMP’s Collimate Capital sale

AMP’s Collimate Capital sales are an effort towards accelerating trade sales by entirely separating Collimate Capital from the company’s system, as stated in AMPs ASX report published today.

The report mentions that significant steps have been taken on both the Dexus and DigitalBridge transactions in order to fulfill the prerequisite requirements listed in the corresponding sale announcements of 27 and 28 April.

With a potential total value of up to AU$699 million, Collimate Capital's international infrastructure equity business was sold for an upfront consideration of AU$462 million. The real estate and domestic infrastructure equity business of Collimate Capital, on the other hand, was sold for an initial cash consideration of AU$250 million and a potential additional cash earn-out of AU$300 million.

In a statement, AMP said,

Data Source: Company announcement dated 15 November 2022

How did AMP perform in 1H FY22?

In the first half of financial year 2022 (1H FY22), AMP returned AU$1.1 billion (includes on-market share buyback capital of AU$350 million) capital to its shareholders, with plans to return AU$750 million in FY23.
In 1H FY22, AMP’s NPAT (underlying) was AU$117 million, down 25% from AU$155 million in 1H FY21.
The company’s controllable costs were AU$45 million lower than in 1H FY21.
AMP’s statutory NPAT improved from AU$146 million in 1H FY21 to AU$481 million in 1H FY22.

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