Japan’s Mitsubishi UFJ Trust and Banking Corp. is planning to sell its 15 percent stake in AMP Capital Holdings back to parent company AMP Ltd. for A$460 million ($328 million).
The sale of the AMP stake is part of a review by Mitsubishi UFJ Trust of shareholdings involving small amounts of investment. The deal is expected to be finalized in the third quarter of 2020.
In addition, AMP Ltd. said it would return A$544 million ($389 million) to shareholders through a special dividend and buyback, according to Market Screener. As of June 30, 2019, the company had A$16.2 billion ($11.6 billion) in infrastructure assets under management.
