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Lennar to spin-off businesses to become pure-play homebuilder, financial services company

· 03/17/2021 12:05
Lennar to spin-off businesses to become pure-play homebuilder, financial services company

- Lennar Corp LEN.N said on Wednesday it plans to spin-off all or parts of ongoing businesses to become a pure-play homebuilder and financial services company.

Businesses being spun-off include Lennar Mortgage Finance, the company's commercial mortgage business, and technology investment business.

The U.S. homebuilder said, on a post-earnings call with investors, the expected size of the spun-off enterprise would be between $3 billion and $5 billion in asset base, with no debt.


(Reporting by Shreyasee Raj in Bengaluru; Editing by Shailesh Kuber)

((Shreyasee.Raj@thomsonreuters.com;))