Lendlease is finally doing what its investors have been begging for
This restructuring is indicative of what big investors want this year. Simple and focused businesses are in, sprawling empires with global ambitions are out.
Lendlease’s board has waved the white flag on its global construction and development strategy, finally agreeing with what investors have told it for years: it’s just too hard.
Lendlease’s problem is that it found it was hard in the good times – when money was cheap, labour was plentiful and property prices were high.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
