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Lend Lease preferred bidder for ING property fund

Lend Lease preferred bidder for ING property fund

Property developer and manager Lend Lease (ASX:LLC) is part of a consortium which has been selected as the preferred bidder to acquire the $1.4 billion ING retail property fund.

The company today announced that the consortium has entered into negotiations for the 14 assets of the fund, a process which is expected to be concluded within six weeks.

Lend Lease will pay up to around 20% of the purchase price of the assets, the company said.

Lend Lease yesterday received court approval to acquire the remaining stake in Primelife Group. As a result, Primelife has been delisted from the ASX.

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Tags Mergers and acquisitionsLend LeaseING Retail Property Fund

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