Quay Quarter Tower, Circular Quay, is one of the prized assets in the AMP Capital/Collimate Capital portfolio.The deal had an up to $300 million headline value, with Dexus to pay $250 million upfront and up to another $50 million depending on assets retained on the platform post completion.Credit Suisse and Goldman Sachs advised AMP.
The deal would see Dexus take management rights to all of Collimate Capital’s Australian assets, including $18.2 billion in real estate and $9.7 billion in infrastructure. It will also try to acquire co-investment stakes in the platform’s funds, worth about $180 million. AMP remains in talks to sell Collimate’s international infrastructure equity arm, which is responsible for $9 billion in assets, to another party.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
Source: News Formal (newsformal.com)