AMP wins Chinese approval for life sale

Original article by Joyce Moullakis
The Australian – Page: 17 & 20 : 10-Feb-20

The China Banking & Insurance Regulatory Commission is understood to have given its approval for AMP’s $2.5 billion divestment of AMP Life to Resolution Life. However, the transaction still has a number of hurdles to overcome, including approval from the Reserve Bank of New Zealand and Australia’s Foreign Investment Review Board. Hamish Carlisle from Merlon Capital Partner says that if Chinese regulators have approved the transaction then this should be disclosed to the Australian sharemarket

CORPORATES
CHINA BANKING AND INSURANCE REGULATORY COMMISSION, AMP LIMITED – ASX AMP, AMP LIFE LIMITED, RESOLUTION LIFE GROUP LIMITED, RESERVE BANK OF NEW ZEALAND, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, MERLON CAPITAL PARTNERS PTY LTD

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