Photo / 123RFBy RNZTwo new potential deals have emerged today - the small tree genetics company Arborgen, and the New Zealand investment and advisory operations of Australia's AMP. The Australian newspaper speculated the New Zealand arm of AMP Capital is being looked at by Australian investment giant, Macquarie, as its parent looks to sell more non-core assets. Citing unnamed sources the paper said the operation, which offers investment management services including KiwiSaver funds, was potentially worth $500 million. The business has previously been slated for divestment through a sale, or NZX listing, before AMP decided to keep it as a stand-alone operation. Last month it raised its earnings forecast for the coming year to between US$13m-US$14.5m ($18.5m-$20.7m) compared with US$11.5m this year.

Source: New Zealand Herald June 30, 2021 03:11 UTC