Dec 19, 2019

Acciona in $180m deal for Lendlease engineering arm

Acciona in $180m deal for Lendlease engineering arm

Lendlease will sell its engineering business for $180 million in a deal with Acciona Infrastructure Asia Pacific.

The company said the transaction was expected to be finalised in the first half of 2020 , subject to conditions including Foreign Investment Review Board approval.

“We believe the sale of the engineering business represents a positive outcome or our people, our clients and our securityholders,” Lendlease group chief executive officer and managing director Steve McCann said.

“Our skilled workforce, client relationships and existing projects stand to enhance their existing footprint in Australia.

“Today’s announcement also represents an important milestone for Lendlease as we continue to focus on the successful delivery of our more than $100 billion global development pipeline.”

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