Lendlease Group Agrees to Sell Development Rights in Italy

MT Newswires Live

Jun 01

Lendlease Group (ASX:LLC) agreed to sell its development rights to the Milano Santa Giulia mixed-use development in Italy to an investment group sponsored by local developer Bizzi & Partners for about AU$250 million, according to a Monday filing with the Australian bourse.

The transaction also includes the acquisition of the company's units in the Heartbeat Fund for AU$90 million in cash and assuming project debt of AU$160 million, the filing said.

The sale is anticipated to result in a post-tax operating loss of roughly AU$175 million, to be recognized within the capital release unit in fiscal year 2026, per the filing.

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Partners for about AU$250 million, according to a Monday filing with the Australian bourse.</p><p>The transaction also includes the acquisition of the company's units in the Heartbeat Fund for AU$90 million in cash and assuming project debt of AU$160 million, the filing said.</p><p>The sale is anticipated to result in a post-tax operating loss of roughly AU$175 million, to be recognized within the capital release unit in fiscal year 2026, per the filing.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LLC.AU","symbol_name":"LENDLEASE GROUP","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2640989997","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2640989997","pubTimestamp":1780270525,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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