Lendlease Group ( (AU:LLC) ) has provided an update.
Lendlease has encountered a legal setback regarding its contractual rights over certain land parcels related to the Figtree Hill project, initially acquired in 2015. The court’s decision challenges Lendlease’s ability to secure these parcels, which are valued at up to $100 million post-tax. Despite this, Lendlease is pursuing a revised agreement with the landowner and plans to appeal the court’s decision. The outcome of this legal matter is crucial for Lendlease as it aims to avoid a significant financial write-off and maintain its FY25 earnings guidance.
More about Lendlease Group
Lendlease Group is a leading international property and infrastructure company. It specializes in project management, construction, and real estate investment, with a focus on urban regeneration projects across various global markets.
YTD Price Performance: -16.02%
Average Trading Volume: 2,223
Technical Sentiment Signal: Strong Buy
Current Market Cap: $2.37B
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