Dec 19 (Reuters) - LendLease Group (LLC) :
- LENDLEASE TO DIVEST ENGINEERING BUSINESS
- ENTERED AGREEMENT WITH ACCIONA INFRASTRUCTURE ASIA PACIFIC (ACCIONA) TO SELL ENGINEERING BUSINESS FOR $180 MILLION
- TRANSACTION IS EXPECTED TO COMPLETE IN FIRST HALF OF CALENDAR YEAR 2020,
- SALE PROCESS FOR SERVICES BUSINESS CONTINUES
- UNDER TERMS OF AGREEMENT, ACCIONA WILL ACQUIRE ENGINEERING BUSINESS EXCLUDING NORTHCONNEX AND KINGSFORD SMITH DRIVE PROJECTS
- IMPACT ON CASH FLOW FROM SALE OF ENGINEERING WILL COMPRISE $180 MILLION IN PROCEEDS FROM SALE
- LOSS ON EXITING ENGINEERING BUSINESS WILL REFLECT A COMBINATION OF RESTRUCTURING COSTS AND PROCEEDS FROM SALE
- CONSIDERS PREVIOUS RESTRUCTURING COST ESTIMATE TO EXIT ENGINEERING & SERVICES BUSINESSES OF $450-$550 MILLION PRE TAX REMAINS APPROPRIATE
News: LLC Lendlease Group - Lendlease To Divest Engineering Business
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$5.49 |
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Mkt cap ! $3.789B | |||
| Open | High | Low | Value | Volume |
| $5.53 | $5.53 | $5.44 | $4.780M | 871.4K |
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| Price($) | Vol. | No. |
|---|---|---|
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