Lendlease Group Completes Sale of The Exchange TRX Stake

MT Newswires Live

Jul 02

Lendlease Group (ASX:LLC) said it completed the sale of its interests in The Exchange Tun Razak Exchange (TRX) to the Valiram Family Office, receiving around AU$400 million in cash, according to an Australian bourse filing on Wednesday after market hours.

The company sold a 40% stake in The Exchange TRX retail mall, reducing its holding to 20%, divested its entire 60% interest in the TRX office tower, and sold a 49% stake in the TRX management company while retaining a 51% interest, resulting in a modest gain on the transaction, per the filing.

The company expects to report a total profit of around AU$50 million in fiscal 2026, largely driven by the sale of management rights in its investments segment, the filing said.

The remaining 20% stake in The Exchange TRX retail mall was transferred to the investments segment, effective Wednesday, while the group continues to hold a 60% interest in the remaining TRX residential land plots and TRX hotel, the filing added.

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