Lendlease’s Genentech/Roche Biologics facility in Singapore (Image: Lendlease)
Australian builder and property investor Lendlease Group has agreed to sell its Asia Pacific life sciences platform to a newly established 50:50 joint venture with US private equity giant Warburg Pincus, as the embattled builder continues to overhaul its business following multi-year losses and growing shareholder dissatisfaction.
The transaction, which Lendlease described as part of its ongoing “simplification”, will see the Sydney-based firm transfer its…