Lendlease will end all international property development and sell its overseas construction divisions, marking the biggest shake-up at one of Australia’s largest real estate groups since it sold MLC to the National Australia Bank more than two decades ago.
The company will confirm plans to exit or sell more than $4 billion worth of international works, mostly in the United States and United Kingdom, in the next three years, ending its decades-long quest to be a globally significant property builder.
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Aaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
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
