Lendlease Group (AU:LLC) has released an update.
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Lendlease has entered into a binding agreement to sell its UK Construction business to Atlas Holdings, marking a significant step in the company’s strategy to streamline operations and focus on its Australian and international investments. This move follows the recent sale of its US East Coast construction operations and is expected to be financially neutral. The sale, which involves £35 million in cash consideration, is anticipated to close before the end of FY25, with a majority of UK employees transitioning with the sale to ensure continuity for clients and partners.
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