Original article by Joyce Moullakis
The Australian – Page: 13 & 16 : 12-Oct-20
Simon Mawhinney of Allan Gray Australia says breaking up AMP would be the best option for unlocking the wealth manager’s value. He adds that if a suitor opts to acquire the entire company they are likely to sell off parts of the business. AMP recently revealed plans to undertake a portfolio review, and its board is believed to be planning to update investors on a possible sale of all or part of the company before the end of 2020. Alan Kwan of Australian Eagle Asset Management says AMP may choose to press ahead with a turnaround plan, given the challenges involved in ‘disentangling’ and divesting parts of the business.
AMP LIMITED – ASX AMP, ALLAN GRAY AUSTRALIA PTY LTD, AUSTRALIAN EAGLE ASSET MANAGEMENT PTY LTD