Lendlease

Lendlease Construction (Europe) plunged to a £16.4m pre-tax loss last year after making more than £30m in provisions against legal claims. The contractor – last week renamed Bovis Construction (Europe) following its sale to US private equity giant Atlas Holdings – published results showing it dropped into the red in…

The private equity firm set to buy Lendlease’s UK construction business is looking at expanding its consulting arm, an executive has said. A senior executive of Atlas Holdings, which announced a £35m sale agreement with Lendlease UK’s parent company this month, told Construction News that Lendlease’s consulting business was a…

The sale of Lendlease to a US private equity firm has been called in for government scrutiny on national security grounds. Last week, Lendlease Group announced it had reached an agreement to sell its UK construction operations to US private equity firm Atlas Holdings for £35m. Construction News understands that…

The buyer of Lendlease’s UK construction business intends to resurrect the Bovis brand name but is not planning a major restructure of operations, Construction News understands. A week ago, Lendlease Group announced it had reached an agreement to sell its UK construction operations to US private equity firm Atlas Holdings…

Lendlease has announced it is selling its UK construction operations to a US private equity firm for £35m. Parent company Lendlease Group announced to the Australian Stock Exchange (ASX) this morning (2 January) that it had entered into a binding agreement to sell its UK construction business to Atlas Holdings,…

The costs of a landmark Lendlease project in Manchester have spiralled by nearly £100m amid “hyperinflation”, dozens of subcontractor claims and unexpected nesting falcons. Lendlease’s mammoth restoration of the Grade II* listed Manchester Town Hall was originally due to complete by June this year. In a report this month, Manchester…

Lendlease has blamed substantial restructuring costs, as it posted a £700m-plus financial loss across its global operations. The Australian contractor also revealed that its remediation provision for building-safety work in the UK had surged to A$365m (£188.9m) – a jump of nearly A$50m (£25.9m) in a year. Lendlease’s operating pre-tax…

Lendlease’s UK construction boss has stepped down, two months after the firm’s Australian parent company announced it would sell the business. Simon Gorski, who has been managing director for European construction for five years, will depart despite telling Construction News last month that he would head the division until it…

Lendlease Construction Europe has been awarded three contracts for British Army facilities under a broader £5.1bn Ministry of Defence (MoD) framework. The contractor said today (5 July) that the deals, worth a combined £450m, were procured under the Defence Estate Optimisation (DEO) Army Programme by the Defence Infrastructure Organisation (DIO).…

Lendlease Group is confident of selling its UK operation by the end of next year, it said today after announcing it was withdrawing from construction markets outside of Australia. In explaining why it was pulling out of its overseas markets, the firm described them as a “drag” on shareholder returns.…