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Australia's Lendlease sells retirement living stake to Dutch fund manager
October 17, 2017 / 6:57 AM / 2 months ago

Australia's Lendlease sells retirement living stake to Dutch fund manager

Oct 17 (Reuters) - Lendlease Group said on Tuesday it had sold a stake worth about A$450 million ($352 million) in its retirement living business to Dutch fund manager APG Asset Management N.V. for a net loss of about A$35 million.

The company also said it expected 2018 earnings to be impacted by underperformance in its Australian construction business, but did not disclose to what extent. ($1 = 1.2767 Australian dollars) (Reporting by Ambar Warrick in Bengaluru and Tom Westbrook in Sydney; Editing by Stephen Coates)

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