Lend Lease announced this morning that it had sold its stake in Bluewater, a huge high-end shopping centre in Britain, for around $1.22 billion.
Previous reports had put the expected value of its stake at around $1 billion, so the deal may be somewhat bigger than what the market was expecting.
Reuters reports the deal will boost its 2014 earnings by 45%.
Lend Lease is now expecting a profit of between $810 million and $830 million for the year, and it expects to pay out half of the profits in unfranked dividends.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.