Edition:
United States

LendLease Group establishes a JV with Softbank Group ​


Tuesday, 17 Oct 2017 02:20am EDT 

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​.