Recommendation turns into a Group line merchandise for AMP | Australian Markets
AMP Restricted’s upcoming release of its full-year outcomes will mirror the company’s substantial exit from financial advice.
The company has offered an up to date reporting template to the Australian Securities Change (ASX) reflecting the finished sale of the AMP Recommendation business “which will be treated as discontinued operations going forward”.
The AMP Recommendation business was acquired through a transaction involving Entireti and AZ NGA.
The announcement mentioned that AMP’s ongoing 30% stake within the three way partnership with Entireti, in addition to a small quantity of retained objects, shall be reported within the Group business unit going ahead.
It mentioned stranded prices which merge from the transaction shall be addressed within the present Enterprise Simplification program.
The up to date reporting template for AMP now covers AMP Financial institution, Platforms, Superannuation and Investments, New Zealand Wealth Administration and Group.
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