Lendlease to sell UK construction arm to US private equity giant

US private equity firm Atlas has struck a deal to buy Lendlease’s UK construction business.
Under the terms of the agreement, Lendlease will receive £35m cash consideration, including £10m deferred until June 2026.
Overall the deal is expected to be profit-neutral for Lendlease after taking into account retained risks on projects that have completed or substantially completed prior to exchange of the sale agreement.Atlas will acquire Lendlease’s construction business