Reuters logo
BRIEF-LendLease Group establishes a JV with Softbank Group ​
October 17, 2017 / 6:47 AM / a month ago

BRIEF-LendLease Group establishes a JV with Softbank Group ​

Oct 17 (Reuters) - LendLease Group

* ‍Announced sale of 25 per cent of its retirement living business to APG Asset Management N.V.​

* ‍Overall impact of transaction including transaction costs will be a net loss after tax of about A$35 million​

* ‍Established a joint venture with Softbank Group to develop and own telecom infrastructure assets in United States​

* ‍LendLease and Softbank have each committed US$200 million equity to fund identified seed assets​

* ‍FY18 result expected to be impacted by underperformance in company’s Australian construction business​

* ‍HY18 EBITDA contribution from Australian construction business is expected to be lower than prior corresponding period​ Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below