LendLease's Communities sale a good, albeit not perfect, outcome - MS

Stockland

19/12/2023 02:58

** Shares of Australia's LendLease Group  LLC.AX  fall 2.2%
to A$7.26
    ** Property developer said on Monday it will sell 12
master-planned Communities projects to Stockland and its capital
partner Supalai Australia for A$1.3 bln ($872.2 mln)
    ** Analysts at Morgan Stanley say the deal is a good one but
not a perfect outcome
    ** Deal will be a good outcome for LLC, but may not be one
that resolves all cash flow concerns - MS
    ** Stock has fallen 5.4% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))