Australia's Lendlease hits 4-decade low on flagging loss from asset sale
BUZZ-Australia's Lendlease hits 4-decade low on flagging loss from asset sale ** Shares of Lendlease Group LLC.AX fall as much as 8.1% to A$2.5, their lowest since early January 1986
** Stock logs largest intraday pct fall since late February 2026
** Integrated real estate business enters sale agreement for its ownership of development rights to Milano Santa Giulia mixed-use development in Milan, Italy
** Agreement with investment group sponsored by local developer Bizzi & Partners has gross value of around A$250 million ($179.58 million)
** Says sale will be conducted at discount to book value and is expected to result in a post-tax operating loss of around A$175 million to be recognised within the capital release unit in FY26
** Stock down 50.5% YTD, including the day's moves
($1 = 1.3922 Australian dollars)
(Reporting by Nikita Maria Jino 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