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- Sells AMP Capital’s international infrastructure equity business
- AMP Capital valued at up to A$2.04 bln
- To return net cash proceeds via capital returns, buy-backs
April 28 (Reuters) – Australia’s AMP Ltd (AMP.AX) will sell unit AMP Capital’s international infrastructure equity business for up to A$699 million ($497.83 million) to U.S.-based DigitalBridge, leaving the wealth manager with banking, wealth and financial advice divisions.
AMP said on Thursday it will get an upfront cash payment of A$462 million from the sale of the assets, an additional estimated A$57 million performance fees payment, and up to A$180 million subject to future fund raising.
The sale comes just a day after the embattled wealth manager announced divestment of AMP…