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18 stories mentioning ASX:LLCUpdated 9d ago

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Asia

Market Chatter: KPMG Australia Names New CEO, Reuters Says

KPMG Australia appointed its Chief Financial Officer and Chief Operating Officer, John Sams, as its new Chief Executive effective immediately, Reuters reported on Tuesday.The firm's former CEO and Chairman were among the leadership who resigned in the wake of a scandal involving the misuse of confidential client information, including the sharing of Optus and Lendlease (ASX:LLC) data among staff bidding for audit work with other firms. Lendlease said it would no longer work with KPMG as its auditor.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Lendlease Group Completes Sale of The Exchange TRX Stake

Lendlease Group (ASX:LLC) said it completed the sale of its interests in The Exchange Tun Razak Exchange (TRX) to the Valiram Family Office, receiving around AU$400 million in cash, according to an Australian bourse filing on Wednesday after market hours.The company sold a 40% stake in The Exchange TRX retail mall, reducing its holding to 20%, divested its entire 60% interest in the TRX office tower, and sold a 49% stake in the TRX management company while retaining a 51% interest, resulting in a modest gain on the transaction, per the filing.The company expects to report a total profit of around AU$50 million in fiscal 2026, largely driven by the sale of management rights in its investments segment, the filing said.The remaining 20% stake in The Exchange TRX retail mall was transferred to the investments segment, effective Wednesday, while the group continues to hold a 60% interest in the remaining TRX residential land plots and TRX hotel, the filing added.

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Asia

Lendlease Group Launches UK Real Estate Development Joint Venture With The Crown Estate

Lendlease Group (ASX:LLC) has launched a joint venture with The Crown Estate to unlock value from a real estate development portfolio in the UK, according to a Wednesday filing with the Australian bourse.The Impact Partnership Joint Venture has a 24 billion pound sterling pipeline of future development assets, and aims to deliver up to 30,000 new residential dwellings and more than 900,000 square meters of sustainable office and life science space, per the filing.The launch of the venture immediately releases around AU$115 million of additional Lendlease capital, reduces the company's funding costs, and halves its future funding commitments, it said.The joint venture's work on an affordable housing offer at the 60-acre Silvertown development is due to start in the next few months, while a planning application for Euston Station is scheduled for submission in fiscal year 2027.Lendlease Group shares fell 2% in recent Wednesday trade.

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Asia

Lendlease Group Unveils First Australian Private Residence of Armani/Casa

Lendlease Group (ASX:LLC) unveiled Cove, the first Australian private residence of design house Armani/Casa, part of the Giorgio Armani Group, at One Circular Quay in New South Wales, the real estate company said in a statement on Monday.The company designed Cove in collaboration with Armani/Casa, the statement said.One Circular Quay is expected to be completed later in the year, per the statement.

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Asia

Lendlease Group Says Macquarie Ceases to be Substantial Holder

Lendlease Group (ASX:LLC) said Macquarie Group (ASX:MQG), and its controlled bodies ceased to be substantial holders of the firm as of Tuesday, according to a Friday Australian bourse filing.Lendlease's shares fell 1% in recent trading on Friday.

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Asia

Lendlease Group Completes Sale of UK Build-to-Rent Portfolio

Lendlease Group, (ASX:LLC) in partnership with Canada Pension Plan Investment Board, completed the sale of its United Kingdom build-to-rent portfolio at Elephant Park in London to Greystar, according to a Friday Australian bourse filing.The transaction will generate about AU$260 million in fiscal year 2026 cash proceeds for the company under its capital recycling strategy, per the filing.The divestment comprises 904 residences across four buildings completed between 2021 and 2024, with settlement expected before June 30, the filing added.

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Asia

Lendlease Group to Sell Remaining Stake in Keyton Retirement Living Trust for AU$525 Million; Shares Jump 4%

Lendlease Group (ASX:LLC) plans to divest its remaining 25.1% stake in the Keyton Retirement Living Trust to existing co-investor Aware Super for AU$525 million, according to a Thursday Australian bourse filing.The net proceeds from the deal, subject to conditions precedent including regulatory approvals, will be used to reduce group debt, per the filing. Completion is targeted for the first half of fiscal 2027.The company's shares jumped past 4% in recent trading on Thursday.

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Asia

Market Chatter: Lendlease CEO Says KPMG Refused to Furnish Details on Probe Into Audit Breach

Lendlease Group (ASX:LLC) CEO Tony Lombardo said KPMG refused to furnish details of an investigation into allegations that the accounting firm improperly accessed confidential Lendlease documents in an effort to win auditing contracts for other companies, The Australian reported Friday.Addressing a parliamentary inquiry into the scandal, Lombardo said KPMG told the company the matter had been resolved following an internal probe that examined whether the documents were stored in KPMG staff lockers, according to the report.KPMG refused to provide an account of its probe, and Lendlease reviewed the breach internally in an attempt to figure out how the information was accessed and shared, Lombardo reportedly said at the hearing.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

GPT Group's Wholesale Shopping Centre Fund Acquires 50% Stakes in Two Retail Assets

GPT Group (ASX:GPT) said its wholesale shopping center fund (GWSCF) agreed to acquire 50% interests in Sunshine Plaza in Maroochydore, Queensland, and Macarthur Square in Campbelltown, New South Wales, from the Lendlease Group (ASX:LLC)-managed Australian prime property fund, according to a Monday filing with the Australian bourse.The acquisitions include AU$622 million for the Sunshine Plaza stake and AU$568 million for the Macarthur Square stake, excluding transaction costs, per the filing.The company and GWSCF will each hold a 50% interest in Sunshine Plaza upon completion, while GWSCF will own 100% of Macarthur Square.The acquisitions will be funded via GWSCF's oversubscribed equity raise and existing debt capacity, with completion expected in July, subject to customary conditions and approvals, the filing said.The company will continue to manage leasing, property operations, and development activities for both assets, the filing added.GPT Group's shares gained about 1% in recent Monday trade.

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Wire

Lendlease Group Reaffirms IDC Business Fiscal 2026 Earnings Guidance; Shares Jump 3%

Lendlease Group (ASX:LLC) said its fiscal 2026 earnings per security guidance for the IDC business was maintained at AU$0.28 to AU$0.34 per share, subject to targeted completions in the fiscal year, according to a Thursday Australian bourse filing.Following AU$4.7 billion of new Australian projects secured in the half year, the Group is working to unlock over AU$10 billion of balance sheet positions at Rozelle Bay, Sydney, and the Brisbane Athlete Village.New work secured for construction in fiscal 2026 is expected to be around AU$6.5 billion, supported by social infrastructure, defense, transport, and data centers, the company said. Backlog revenue as of June 30 is expected to be around AU$8 billion, supporting earnings momentum into fiscal 2027.The company's asset recycling program continues to progress with a number of well-advanced transactions now likely to be completed in early fiscal 2027, per the filing. Due to the timing of transactions and more challenging market conditions, underlying group gearing in fiscal 2026 is anticipated to be in the mid-30% range.Lendlease Group's shares rose past 3% in recent trading on Thursday.

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Asia

Lendlease Group Appoints Group CEO

Lendlease Group (ASX:LLC) appointed Nick O'Neil as group chief executive, effective Sept. 10, according to a Thursday filing with the Australian bourse.O'Neil will succeed Tony Lombardo, who will step down on or before June 30, per the filing.O'Neil currently serves as head of Australian real assets at AustralianSuper, the filing said.The CEO's function will be jointly led on an interim basis by Andrew Nieland, group chief financial officer, and Penny Ransom, group chief investment officer, the filing added.

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Asia

Market Chatter: Lendlease Group Asks KPMG to Remove ASIC Probe-Associated Staff From Its Accounts, The Australian Reports

Lendlease Group (ASX:LLC) asked KPMG to remove all staff who are the subject of the Australian Securities & Investments Commission's probe arising from the accounting firm's audit scandal from its accounts, according to a Friday report by The Australian.Lendlease sought a guarantee from the auditing firm "that no employees currently on our audit have been, or are, the subject of any investigations," the report said, citing a company spokeswoman.In March, Australian Senator Deborah O'Neill revealed a whistleblower's allegations of misconduct at KPMG, including confidential papers from Lendlease that were allegedly used to support bids for major audit tenders for Westpac and Dexus, according to a Reuters report.Lendlease did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Update: Lendlease Group Agrees to Sell Development Rights in Italy; Shares Hit All-Time Low

(Updates to add stock movement in the headline and last paragraph)Lendlease Group (ASX:LLC) agreed to sell its development rights to the Milano Santa Giulia mixed-use development in Italy to an investment group sponsored by local developer Bizzi & Partners for about AU$250 million, according to a Monday filing with the Australian bourse.The transaction also includes the acquisition of the company's units in the Heartbeat Fund for AU$90 million in cash and assuming project debt of AU$160 million, the filing said.The sale is anticipated to result in a post-tax operating loss of roughly AU$175 million, to be recognized within the capital release unit in fiscal year 2026, per the filing.The company's shares fell around 3% in recent Monday trade, earlier hitting a record low.

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Asia

ASX Preview: Australian Shares Set to Fall as Israel-Lebanon Tensions Lift Oil; Lendlease Group Agrees to Sell Development Rights in Italy

Australian shares are poised to fall on Monday as oil prices jumped more than 2% after Israel ordered troops deeper into Lebanon, heightening Middle East supply risk and reducing expectations of a near-term easing in regional tensions.On May 29, the S&P 500 and the Nasdaq Composite each rose 0.2%, while the Dow Jones Industrial Average gained 0.7%.In the macroeconomy, Australia's manufacturing sector weakened in May as new orders fell sharply for a third consecutive month amid rising costs and ongoing supply-chain disruptions linked to the war in the Middle East, according to a survey by S&P Global published Monday.Australian card activity growth has slowed sharply in recent months, with non-fuel spending flattening and real consumer activity estimated to be contracting amid inflation and higher fuel costs, according to a Monday report by Westpac Banking (ASX:WBC, NZE:WBC).In corporate news, Lendlease Group (ASX:LLC) agreed to sell its development rights to the Milano Santa Giulia mixed-use development in Italy to an investment group sponsored by local developer Bizzi & Partners for about AU$250 million.Ventia Services Group (ASX:VNT, NZE:VNT) secured a five-year, AU$133 million contract extension to continue operating and managing the Australian marine complex-common user facility in Western Australia, with the new term commencing in July 2027.Australia's benchmark index rose 1.6% or 138.8 points to close at 8,731.70 on May 29.

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Asia

Lendlease Group Agrees to Sell Development Rights in Italy

Lendlease Group (ASX:LLC) agreed to sell its development rights to the Milano Santa Giulia mixed-use development in Italy to an investment group sponsored by local developer Bizzi & Partners for about AU$250 million, according to a Monday filing with the Australian bourse.The transaction also includes the acquisition of the company's units in the Heartbeat Fund for AU$90 million in cash and assuming project debt of AU$160 million, the filing said.The sale is anticipated to result in a post-tax operating loss of roughly AU$175 million, to be recognized within the capital release unit in fiscal year 2026, per the filing.

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Asia

Lendlease Group Fund, Charter Hall Enter into Process on Sydney CBD Transactions

Lendlease Group's (ASX:LLC) managed fund, Australian Prime Property Fund Commercial, and Charter Hall Group (ASX:CHC) entered into a process on a series of transactions across the Spring and O'Connell Street precinct in Sydney's central business district, according to a Friday statement.The first transaction phase includes the completed exchange of contracts on 19, O'Connell Street and strata lots within 23, O'Connell Street.Charter Hall also accepted a pre-emptive offer for the remaining interests in 1, O'Connell Street, 8, 10, 16, Spring Street, and the remaining strata lots in 23, O'Connell Street due to an exchange in the coming weeks.Following the divestment, the fund will focus on its portfolio of office assets, per the statement.Shares of both firms fell 1% in recent trading on Friday.

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Asia

Lendlease Group Shares Down After Redevelopment Proposal in New South Wales

Lendlease Group (ASX:LLC) shares fell 2% in recent Monday trade after the company said Sunday that the New South Wales government has decided to advance its proposal to redevelop Rozelle Bay.The proposed redevelopment aims to deliver up to 3,000 new homes, with plans to complete 1,000 of them by 2032, to help meet more than 35% of the state government's home target of 8,500 homes across the Bays West precinct, Lendlease said.The company is a long-term leaseholder at Rozelle Bay, and will continue to collaborate with the government to refine the proposal, it said.

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Asia

Lendlease Group Says BlackRock Group Ceases to be a Substantial Shareholder

Lendlease Group (ASX:LLC) received notice that BlackRock Group and its subsidiaries are no longer substantial holders of the company from April 10, according to a Tuesday filing with the Australian bourse.BlackRock Group and its subsidiaries became a substantial holder of the company on April 8, with a 5.01% total voting power, an earlier filing showed.

ASX:LLC

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