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Lendlease Group Says Italy Property Sale Completion Remains Uncertain

MT Newswires Live
2 hours ago

Lendlease Group (ASX:LLC) said completion of the sale of its ownership interest in Milan's Milano Santa Giulia mixed-use development to an investment group backed by Bizzi & Partners remains uncertain, as conditions precedent to the transaction have yet to be met, according to a Friday filing with the Australian bourse.

The company and Bizzi have extended the deadline for meeting those conditions to Oct. 15, with the option for a further extension, per the filing.

The company expects it may need to fund around AU$160 million in project obligations during the first half of fiscal 2027 if the transaction fails to close, the filing added.

Lendlease Group's shares were down nearly 2% in recent Friday trade.

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