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Lendlease AGM

Construction giant Lendlease is expected to face questions about the sale of its engineering business at is annual general meeting on Wednesday, amid mounting speculation a deal for the troubled unit could soon be announced.

Lendlease announced plans to sell its engineering division in 2018 following a series of delays and cost blowouts to major projects that resulted in multimillion-dollar write-downs.

Market sources have speculated that Lendlease is on the brink of announcing a deal with a European buyer for the business. Lendlease declined to comment.

The company has previously confirmed shortlisted bidders had moved into due diligence on the business. A host of companies have been linked with the division. Many Australian engineering and infrastructure firms have been acquired by offshore buyers in recent years.

Sarah has more here. 


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