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AMP makes new agreement with Resolution Life

William McInness writing at the Australian Financial Review, is reporting that AMP has just announced a new agreement with Resolution Life, as expected. Link. Key statement from the article: 

The firm also announced a revised agreement to sell AMP Life to Resolution Life. The purchase price of $3 billion includes $2.5 billion cash and a $500 million equity interest in Resolution Life Australia.

AMP will further localise its New Zealand wealth management and explore options to divest.

AMP will also do an equity raise. More details in the article

 

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