Lendlease divests remaining Keyton interest for $525M

• Lendlease has agreed to divest its remaining 25.1% interest in Keyton to Aware Super for $525 million.
• ·The company stated that net proceeds from the sale will be utilised to reduce overall group debt.
• The transaction forms part of Lendlease's broader ongoing strategy to accelerate its capital recycling initiatives.

Lendlease (ASX:LLC) executed an agreement to divest its remaining 25.1 per cent interest in Keyton for $525 million.

The company stated that the transaction aligns with its first-half financial year 2026 book value.

Net proceeds from the transaction will be used by the group to reduce its outstanding corporate debt.

Lendlease expects completion in the first half of the 2027 financial year, subject to necessary regulatory approvals.

Following the announcement, the Lendlease share price was up at $3.02.

The divestment brings total initiatives from the capital release unit to $3.4 billion.

The business is continuing to advance further transactions targeted for the 2026 and early 2027 financial years.