Sunday , September 20 2020
Home / Business / AMP explores options to spin off businesses

AMP explores options to spin off businesses

AMP has appointed a team of consultants and lawyers to explore options for spinning off parts of the company after receiving a spike in unsolicited interest from third parties wanting to buy its assets.

The embattled financial services provider claimed it was committed to its existing strategy, including restructuring its wealth management arm to simplify products and growing its asset management business AMP Capital by expanding its private markets business.

“However, AMP periodically receives unsolicited interest in its assets and businesses, and recently has experienced an increase in interest and enquiries,” AMP said in a statement to the ASX on Wednesday morning. “The board has therefore decided to undertake a portfolio review to assess all opportunities in a considered and holistic manner, evaluating the relative merits as well as potential separation costs and dis-synergies, with a focus on maximising shareholder value.”

AMP is exploring options to spin off parts of the company.

AMP is exploring options to spin off parts of the company. Credit:Louie Douvis

The review may find the company’s current mix of assets and businesses delivered better value for shareholders than any divestments or other deals, it added. Credit Suisse, Goldman Sachs and King & Wood Mallesons have been appointed as advisers to manage the review.

About admin

Check Also

Streets ahead in the joy of interacting and tackling change

How long have you been doing this job and what first sparked your interest in …