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Arborgen, AMP in potential mergers, acquisitions


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The Australian newspaper speculated the New Zealand arm of AMP Capital is being looked at by Australian investment giant, Macquarie, as its parent looks to sell more non-core assets.
Citing unnamed sources the paper said the operation, which offers investment management services including KiwiSaver funds, was potentially worth $500 million.
The business has previously been slated for divestment through a sale, or NZX listing, before AMP decided to keep it as a stand-alone operation.
The renewed talk of a sale has been prompted by expectations that AMP, badly scarred in the fallout from the Australian banking Royal Commission, will need extra funds to cover further consumer and restructuring costs. ....

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