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Australia's Lendlease drops after termination of sale deal for MSG North

By Reuters News04:07 (UTC), 9 November 2026 Updated

** Shares of Lendlease LLC.AX fell as much as 6.4% to A$2.415, marking their biggest intra-session loss since August 17

** Real estate co says agreement to sell its ownership interest in the development rights to the Milano Santa Giulia mixed - use development (MSG North) has been terminated

** As a result of termination, co will no longer receive the anticipated cash proceeds of A$90 million that were expected in 1H FY27

** "Lendlease is pursuing alternative transactions for the MSG North project", says co

* LLC is expected to fund project obligations of about A$160 millom in 1H FY27, if an alternative transaction is not finalised by December end, adds co

** Stock down 52.4% this year, including the day's move

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