Brief: AMP Says AMP Capital Agrees Internalisation Of Precinct (NZ)

Precinct Properties New Zealand

29/03/2021 01:42

March 29 (Reuters) - AMP Ltd  AMP.AX :
    * ASX ALERT-AMP CAPITAL AGREES INTERNALISATION OF PRECINCT
(NZ)-AMP.AX
    * AMP LTD - CONFIRMS IT HAS AGREED TO END MANAGEMENT
AGREEMENT
WITH PRECINCT PROPERTIES NEW ZEALAND
    * AMP- TRANSACTION TO DELIVER ABOUT A$80 MILLION PROFIT
SUBJECT TO
FOREIGN CURRENCY & OTHER ADJUSTMENTS FOR AMP CAPITAL'S 50% SHARE
OF PAYMENT
    * AMP -AMP CAPITAL WILL CEASE RECEIVING PRECINCT MANAGEMENT
FEES
POST IMPLEMENTATION, IMPACT OF WHICH IS NOT MATERIAL TO AMP
CAPITAL'S ONGOING EARNINGS

Source text for Eikon:  ID:nASX6GxX21 
Further company coverage:  AMP.AX 

 ((Reuters.Briefs@thomsonreuters.com;))