Lendlease Group (AU:LLC) has released an update.
Lendlease Group has entered into a 50/50 joint venture with Warburg Pincus to establish a new life sciences real estate platform in the Asia Pacific region. The deal, valued at S$129 million, will see Lendlease transferring its life sciences construction and development capabilities in Asia to the joint venture, with the expectation of A$66 million in net cash proceeds. This strategic move aligns with Lendlease’s simplification strategy and is set to bolster its focus on the life sciences sector, providing new investment opportunities.
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