Lendlease Sells Capella Capital for $235 Million in Portfolio Restructure

Highlights:

• Lendlease (ASX: LLC) Sells Capella Capital: The company has agreed to sell its infrastructure investment platform, Capella Capital, to Sojitz Corporation for $235 million as part of its strategic simplification efforts.
• Expected Financial Impact: The sale is projected to contribute approximately $70 million to Lendlease's operating profit after tax in the 2025 financial year.
• Ongoing Capital Recycling Strategy: Lendlease has raised $2.2 billion from divestments, including a $1.1 billion sale of greenfield housing projects to Stockland and a $70 million sale of its UK building arm, marking its exit from global construction.

Strategic Sale to Sojitz Corporation

Lendlease Group (ASX: LLC) has announced the sale of its infrastructure investment arm, Capella Capital, to Japan’s Sojitz Corporation in a deal valued at $235 million. This move is part of Lendlease’s ongoing strategy to streamline its operations and reduce future funding obligations. The transaction will include Sojitz acquiring Lendlease’s stake in Capella’s infrastructure platform.

Boost to FY25 Profit

According to the company, the divestment is expected to generate approximately $70 million in operating profit after tax for the 2025 financial year. This aligns with Lendlease’s broader efforts to free up capital by exiting non-core businesses.

Continued Asset Divestment Strategy

Lendlease has been actively shedding assets as part of its consolidation efforts. At the time of writing, the company has recouped around $2.2 billion from various sales. Notably, in November, it sold a $1.1 billion greenfield housing portfolio to Stockland (ASX: SGP). Earlier this month, Lendlease finalized its exit from global construction by selling its UK building division for $70 million.

Focus on Development Partnerships
As part of its long-term strategy, Lendlease aims to unlock capital tied up in development projects by forming investment partnerships. The company believes this will allow it to focus on higher-value projects while reducing capital intensity.

This latest transaction underscores Lendlease’s commitment to refining its portfolio, ensuring greater financial flexibility, and positioning itself for sustainable growth.

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