Lendlease sells Capella Capital to Sojitz for $235M amid strategic divestments
Lendlease (ASX:LLC) has confirmed the sale of Capella Capital to Sojitz, a Japanese conglomerate, for $235 million.
The transaction is a part of Lendlease's ongoing capital recycling initiatives valued at $2.2 billion.
The sale is poised to contribute approximately $70 million to Lendlease's FY25 operating profit after tax.
The transaction will see Sojitz acquiring Lendlease's interests in Capella's infrastructure platform.
Approximately 80 Capella employees will transfer with the sale.
Lendlease and Capella will collaborate on existing projects, ensuring continued service delivery with no expected disruptions.
Alongside this, Lendlease has finalised the sale of its US Military Housing business to Omaha Beach Investment for $516 million.
Lendlease Group CEO Tony Lombardo stated, "The announced Capella Capital and Military Housing divestments progress our strategy to simplify the group, as we work towards becoming less complex, more focused and ultimately more profitable."
Both transactions align with Lendlease's FY25 earnings guidance, with anticipated Group Earnings Per Security remaining consistent at 54 to 62 cents.
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