Australia's Lendlease to sell remaining Keyton stake for $361 million

June 25 (Reuters) - Australian property firm Lendlease LLC.AX said on Thursday it would sell its remaining 25.1% stake in the Keyton Retirement Living Trust to co-investor Aware Super for A$525 million ($361.62 million).


Here are some details:

  • The divestment marks further progress in Lendlease's capital recycling programme, which has accelerated since a strategic reset in May 2024 to streamline operations and free up capital.

  • Net proceeds will be used to reduce group debt, the firm said.

  • Shares of Lendlease were up 5.2% at A$3.06, heading for their best session since June 11 if current gains held.

  • The Keyton Retirement Living Trust is one of Australia's leading retirement living platforms.

  • Including the Keyton sale, the company said it has completed about A$3.4 billion of capital recycling initiatives.

  • The transaction is in line with Lendlease's first-half 2026 book value.

  • It is subject to customary conditions, including regulatory approvals, with completion targeted in the first half of 2027.


($1 = 1.4518 Australian dollars)


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