insto - Australian financial markets

The AMP Capital Investor group has inked an agreement that will expand its business in Asia.

The agreement is for AMP to acquire 50 per cent of MacarthurCook Industrial REIT’s (MI REIT) management and property management companies as well as taking a cornerstone stake of up to 19.2 per cent in the Singapore-listed MI REIT. The cornerstone stake is worth up to A$42.6 million (S$54.1m). MI REIT has a property portfolio valued at approximately A$389 million (S$494 million).