AMP and Dexus Funds Management have confirmed the requirement needed to complete the sale of AMP Capital’s real estate and domestic infrastructure equity business Collimate Capital has been met.
This requirement was to remove AMP’s stake in China Life AMP Asset Management Company from the sale agreement.
Upon final completion of the transaction – expected to occur on 30 November – AMP will receive the remaining $50 million of the $225 million base purchase price from Dexus.
Collimate Capital is the re-branded name of AMP Capital after AMP announced it would divest its investment business.