AMP Limited today provides an update on the sale of the AMP Capital domestic real estate and infrastructure equity business to Dexus Funds Management Ltd (Dexus).

AMP and Dexus have agreed to extend the date for satisfaction or waiver of conditions precedent for the transaction to 20 March 2023.  AMP continues to work towards securing the outstanding regulatory approval.

The purchase price remains A$225 million as previously announced to the ASX on 9 January 2023.

As previously advised, AMP and Dexus are also in the process of finalising binding documentation for a revised transaction structure with a two-stage completion process. If conditions precedent are not satisfied on the original transaction, first completion of the revised transaction is expected to occur on or before 20 March 2023.

AMP will keep the market updated on any material updates to the transaction.

^{Authorised for release by the Market Disclosure Committee.}