May 7, 2020 / 9:50 PM / 19 days ago

Australia's AMP scraps planned sale of NZ wealth management unit on coronavirus hit

May 8 (Reuters) - Australia’s AMP Ltd on Friday said it scrapped plans to divest its New Zealand wealth management business due to the disruption caused by the coronavirus pandemic on the economy and financial markets.

The wealth manager said it held discussions with a number of interested parties regarding the divestment, but the offers it received did not meet expectations. (Reporting by Rashmi Ashok in Bengaluru Editing by Chris Reese)

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