On April 3, 2024, Tanarra Capital announced that it has urged the Lendlease Group to spin-off its entire international business, not just for future success, but for its survival. In addition, Tanarra Capital stated that since its inception, the Company has punched above its weight, shielding Westpac from corporate raiders, and owning insurer MLC, which proved a cash cow that subsidized its volatile property business until its sale to National Australia Bank for $4.6 billion in 2000. Further, Tanarra Capital stated that the former company insiders had found it risk averse and siloed with too many management layers and cases of public in-fighting between divisions, and adding that staffing needed to be slim-lined.
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Apr. 03 | Tanarra Capital Urges Lendlease to Spin-off | CI |
Apr. 03 | Australian shares fall as financials and healthcare stocks drag | RE |
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+28.54% | 16.23B | |
-14.54% | 14.98B |
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