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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Lendlease Group    LLC   AU000000LLC3

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Lend Lease Group : Lend Lease reaches financial close on US Army lodging privatisation program

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04/16/2012 | 09:12am CEST

Lend Lease today announced that it has reached financial close on Group B of the US Department of the Army's Privatisation of Army Lodging (PAL) program and secured US$275 million (circa A$265 million) in project debt.

Lend Lease is the developer for the PAL program, part of the US Army's initiative to privatise hotel facilities on Army installations nationwide.

Lend Lease Group Chief Executive Officer and Managing Director, Mr Steve McCann, said the collaboration with the US Army demonstrates Lend Lease's long-term commitment to privatised partnerships like PAL.

"Implementing this phase of the PAL program allows Lend Lease to continue leading the efforts in what is the US military's only lodging privatisation program."

Lend Lease is a market leader in the US military housing privatisation sector. With more than 40,000 homes, 8,200 hotel rooms and 192 apartments, Lend Lease has created master-planned, mixed-use communities throughout the United States.

ENDS

For further information, please contact:

Investor Relations:

Sally Cameron

Group Executive - Investor Relations

Tel: 02 9236 6464

Corporate Affairs:

Iwona Polski

Group Media & External Communications Manager

Tel: 02 9237 5034

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Sales 2017 15 712 M
EBIT 2017 1 123 M
Net income 2017 795 M
Debt 2017 1 688 M
Yield 2017 3,89%
P/E ratio 2017 12,09
P/E ratio 2018 11,68
EV / Sales 2017 0,72x
EV / Sales 2018 0,69x
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Mean consensus HOLD
Number of Analysts 10
Average target price 16,5  AUD
Spread / Average Target 0,30%
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NameTitle
Stephen Barry McCann Group CEO, Executive Director & Managing Director
David Alexander Crawford Chairman
Daniel Labbad Chief Executive Officer-International Operations
Tarun Gupta Group Chief Financial Officer
Phillip Maxwell Colebatch Independent Non-Executive Director
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