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AMP flags delay with sale of Collimate Capital

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By Reporter
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2 minute read

The sale may not be completed in November as previously expected.

AMP has indicated that the sale of Collimate Capital’s domestic infrastructure equity and real estate business, and its international infrastructure business could be delayed.

The firm announced the sale of its domestic infrastructure equity and real estate business to Dexus Funds Management in April — a day before also confirming that it had inked an agreement to sell the international infrastructure business to a subsidiary of the DigitalBridge Group, DigitalBridge Investment Holdco — marking its official exit from asset management.

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In a statement to the ASX on Tuesday, AMP said that while “significant progress” had been made on both transactions, the expected timeline for their completion may not be met.

“The regulatory approval processes associated with both sales are ongoing, with the result that the transaction may not complete by the end of November 2022,” it said.

“All parties are working constructively together towards completion, and we will update the market on the likely completion dates for both transactions as these approvals progress.”

Dexus acknowledged AMP’s latest update in a separate statement to the ASX, confirming that “significant progress has been made by both Dexus and AMP toward satisfying all conditions precedent for the transaction”.

“Dexus and AMP are working constructively together towards completion, and we will update the market on the likely completion date as soon as possible,” the firm added.

DigitalBridge Group has yet to acknowledge the hold-up.

AMP flags delay with sale of Collimate Capital

The sale may not be completed in November as previously expected.

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