Australian wealth manager AMP Ltd will sell the real estate and domestic infrastructure equity business of its asset management unit, AMP Capital, to Dexus for up to A$550 million ($392.8 million), the companies said on Wednesday.
The deal includes A$250 million in upfront cash payment and an earn-out consideration of up to A$300 million subject to factors including the successful transition of assets under management (AUM), the firms said in separate statements.
AMP said, however, it was unlikely it would receive the full earn-out given an expected loss of AUM from AMP Capital, now called Collimate Capital, of about A$3.0 billion.
Read more: Reuters
