02 Sep 2022

ACRT transition from the AMP platform

2 September 2022

ACRT transition from the AMP platform

Dexus notes today’s announcement by AMP Limited (“AMP”) that AMP Capital Retail Trust (ACRT or the Fund) will transition from the AMP platform.

On 27 April 2022 Dexus entered into a Share Sale and Purchase Agreement (“SPA”) with Collimate Capital Limited, a wholly owned subsidiary of AMP Limited, to acquire AMP’s real estate and domestic infrastructure equity business (“Transaction”)1 .

The structure and pricing of the SPA were agreed having regard to the final assets under management (“AUM”) that will be transitioned to Dexus. As a result of ACRT exiting the AMP platform, the earn out amount payable under the SPA will reduce to a maximum of approximately $25 million2, taking the maximum potential price to approximately $275 million including the $250 million upfront cash payment. The maximum potential AUM that will transition across to Dexus is approximately $18 billion. Further information will be provided as Dexus and AMP Capital progress towards completion of the transaction.

Dexus remains focused on completing the Transaction which positions it as a leading real asset manager, with new capabilities and an expanded product offering, underpinned by our best practice governance and risk management framework.

Subject to satisfaction of conditions precedent, Dexus expects the Transaction to complete this calendar year.

Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited

  1. Dexus originally announced the Transaction to ASX on 27 April 2022.
  2. The earn out consideration is subject to a range of factors including successful transition of assets under management (“AUM”) and will be finally assessed nine months following completion of the Transaction.



Rowena Causley

Head of Listed Investor Relations

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