(Adds details from paragraph 2 onwards)
Dec 18 (Reuters) - Developer Lendlease Group (LLC) said on Monday it has entered into an agreement for the sale of 12 Australian master-planned Communities projects to Stockland Corporation (SGP) and its capital partner, Supalai Australia, for A$1.3 billion ($870.22 million)
The sale is expected to realise a premium of about 20% to book value and contribute A$130 to A$160 million to fiscal 2024 core operating profit after tax.
Four projects with a fiscal 2023 book value of A$0.2 billion are nearing completion or expected to achieve greater future value through additional development activities and will remain with the company, it said.
The transaction is subject to conditions precedent including third-party consents, planning approvals and Foreign Investment Review Board approval, the company said. ($1 = 1.4939 Australian dollars)
News: SGP UPDATE 1-Lendlease sells 12 Australian Communities projects for $870 mln to Stockland Corp
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Last
$6.35 |
Change
0.005(0.08%) |
Mkt cap ! $15.15B | |||
| Open | High | Low | Value | Volume |
| $6.28 | $6.35 | $6.28 | $11.23M | 1.809M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 30508 | $6.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.35 | 7781 | 16 |
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