AMP considering more asset sales

AMP’s board has decided to undertake a portfolio review to assess “all opportunities in a considered and holistic manner” and will evaluate the merits, separation costs and dis-synergies of any separation, with a focus on “maximising shareholder value”.

“The board believes that AMP has high-quality businesses with significant strategic value,” said AMP chair Debra Hazelton.

“The board and management firmly believe in our existing strategy, including a re-pivot to private markets in AMP Capital and are confident that this will deliver long-term value for shareholders. However, we have taken a decisive step to undertake a portfolio review to ensure we appropriately assess all options to maximise shareholder value in a considered and disciplined manner.”