Australia's LendLease jumps on $362 million stake sale, Citi notes balance sheet relief
25/06/2026 03:54
BUZZ-Australia's LendLease jumps on $362 million stake sale, Citi notes balance sheet relief ** LendLease shares LLC.AX rise as much as 6% to A$3.085, biggest intraday pct gain since June 11
** Among top gainers on benchmark .AXJO, which is down 0.4%
** Real estate co says it divests remaining about 25% stake in Keyton Retirement Living Trust to retirement savings fund Aware Super for A$525 million ($361.94 million)
** Says net proceeds will be used to reduce co's debt
** Citi (maintains "buy", PT at A$4.5) says sale relieves any perceived balance sheet pressure
** Adds, LLC winning property development projects worth over $10 billion will improve FY27 earnings
** YTD, stock down about 41%, .AXJO up 0.7%
($1 = 1.4505 Australian dollars)
(Reporting by Aamir Sheik Khalid in Bengaluru)
Recent news on Lendlease
See all newsBrief: Lendlease Group Gives Further Update On MSG North Sale
Australia's Lendlease slumps on uncertainty over Italy property sale
Brief: Lendlease Group And Bizzi Extend Satisfaction Date For MSG North Sale To Oct 15
Citi says Australia's Lendlease investors await new CEO strategy, earnings pressures stay
Brief: LendLease Announces Conditions Precedent Satisfied For Keyton Divestment