Multiplex sells AMP stake

Australian construction company Multiplex, which 10 days ago reported a first half net loss of A$119.6 million ($135 million), yesterday sold a 5.5 per cent stake in AMP New Zealand Office Trust, sources said.

The parcel of 26.7 million shares was sold at 97c each by broker ABN Amro to a range of institutions.

Multiplex, which still has 20 per cent of AMP Office, has had bad luck in its reconstruction of Wembley Stadium.