Australia headquartered financial services group AMP confirmed on 19 April that it was in talks with multiple parties over a potential sale of its investment management unit Collimate Capital, formerly AMP Capital.
It said: "Further to its statement on 10 February 2022, AMP Limited confirms that it is in discussions with multiple parties, including Dexus, regarding the potential sale of the assets and businesses of Collimate Capital.
"AMP will continue these discussions with a focus on maximising the value for shareholders by getting the best outcome for clients and employees.
"While these discussions continue, AMP remains in a position to pursue either a sale or demerger of these businesses.
"AMP will provide further updates to the market as appropriate."
According to the Sydney Morning Herald, the company's flagship funds management business - AMP Capital - will be sold in two separate transactions - the property arm is set to be hoovered up by Dexus for around $300 million, while the international infrastructure business is also earmarked for sale - with Apollo Global Management the likely buyer.
The paper further said at the end of the process the smallish rump that remains of AMP will be a wealth management business with a much depleted group of financial advisers but a successful platform business, North.
AMP will also retain its bank.
AMP's wealth business continued to experience funds outflows while the advice element operated at a loss, according to the most recent set of full-year accounts released in February 2022.
