Positive news this morning in my humble opinion. LLC has completed the sale of it's services business for $310M. It's very very hard to run these large global diversified businesses (perhaps especially from Australia. Because I'm generally Muddled, I like simplicity and focus. It makes execution more reliable (when you have a competitive advantage). How that $310M is deployed is now really important. I believe we'll start to see a re-rate on LLC once they finish this simplification and get on with delivering development projects.

DISC: held

Lendlease announces completion of Services sale

Lendlease today announced the completion of the sale of its Services business to Service Stream, receiving the full sale price of $310 million.

Global Chief Executive Officer, Tony Lombardo, said “The completion of the sale of the Services business is another important milestone in simplifying the Group as we focus on activities where our competitive edge is the strongest.”