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| Lend Lease sells stake in Greenwich Peninsula Regeneration project Australian construction giant Lend Lease announced a conditional sale of its stake in Greenwich Peninsula Regeneration Limited to Quintain Estates and Developments PLC (QED). The transaction is conditional on the approval of a QED shareholder vote next month. Lend Lease secured the development rights to the 80 hectare Greenwich Peninsula regeneration site under an agreement with the then Urban Regeneration Agency (which is now part of the Greater London Authority) in partnership with QED in 2002. If the transaction successfully completes, Lend Lease expects to receive cash proceeds of circa ₤100 million. Lend Lease expects to book a profit of circa ₤25 million on the sale, net of tax and other costs. Profit and settlement will not occur until second half calendar 2012. write your comments about the article :: © 2012 Construction News :: home page |