from Dexus Finance Pty Limited (isin : XS1961891220)
EQS-Adhoc: Dexus Finance Pty Limited: Update on Collimate Capital acquisition
EQS-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Corporate Action/Real Estate
Dexus Finance Pty Limited: Update on Collimate Capital acquisition
01-March-2023 / 00:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Dexus (ASX: DXS)
ASX release
1 March 2023
Update on Collimate Capital acquisition
Dexus today provides an update on its agreement to acquire Collimate Capital’s real estate and domestic infrastructure equity business (the “Transaction”) from AMP Limited (“AMP”). Dexus and AMP have agreed to extend the date for satisfaction or waiver of the conditions precedent for the Transaction to 20 March 2023.
Dexus and AMP are also in the process of finalising binding documentation for an alternative Transaction structure under a two-stage completion process. This would allow first completion of the Transaction without satisfaction of the condition precedent relating to the transfer of AMP’s ownership interest in China Life AMP Asset Management (“CLAMP”) out of entities being acquired by Dexus under the Transaction.
Under the alternative Transaction structure, the staff and effective day to day management of the majority of the platform would transfer to Dexus at first completion. First completion is expected to occur on or before 20 March 2023. Final completion will remain dependent on the ownership of CLAMP being transferred out of the relevant entities that Dexus has agreed to purchase.
The maximum total consideration payable by Dexus has been reduced to a base purchase price of $225 million, in accordance with the update provided to ASX on 9 January 2023.
The alternative transaction approach will be pursued alongside completion requirements for the existing Transaction. Dexus will keep the market informed of any material updates relating to the Transaction.
Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited
For further information please contact:
| Investors Rowena Causley Head of Listed Investor Relations +61 2 9017 1390 +61 416 122 383 rowena.causley@dexus.com | Media Jim Kelly Domestique +61 412 549 083 jim@domestiqueconsulting.com.au |
Information and Explanation of the Issuer to this announcement:
About Dexus
Dexus (ASX: DXS) is one of Australia’s leading fully integrated real asset groups, managing a high-quality Australasian real estate and infrastructure portfolio valued at $62.3 billion (pro forma post completion of the Collimate Capital acquisition). We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We directly own $17.8 billion of office and industrial assets and investments. We manage a further $44.3 billion of investments in our funds management business (pro forma post completion of the Collimate Capital acquisition) which provides third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a strong track record of delivering outperformance and benefit from Dexus’s capabilities. The group’s $15.8 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. We consider sustainability (ESG) to be an integral part of our business with the objectives of Leading Cities, Future Enabled Customers, Strong Communities, Thriving People and an Enriched Environment supporting our overarching goal of Sustained Value. Dexus is listed on the Australian Securities Exchange and is supported by more than 31,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. www.dexus.com
Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS)
Level 25, 264 George Street, Sydney NSW 2000
01-March-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Dexus Finance Pty Limited |
| 264 George Street | |
| 2193 Sydney | |
| Australia | |
| Phone: | +61 2 9017 1100 |
| Fax: | +61 2 9017 1101 |
| E-mail: | ir@dexus.com |
| Internet: | www.dexus.com |
| ISIN: | XS1961891220, XS2487637527 |
| WKN: | A2RZHG |
| Listed: | Regulated Unofficial Market in Frankfurt |
| EQS News ID: | 1571283 |
| End of Announcement | EQS News Service |
1571283 01-March-2023 CET/CEST