Lendlease Group (ASX:LLC) signed a binding agreement to sell its UK construction business to Atlas Holdings for 35 million pounds sterling in cash, according to a Thursday filing with the Australian bourse.

Once completed, the sale will finalize the exit of Lendlease's international construction operations ahead of the targeted 18-month timeline, the filing said.

The profit outcome is expected to be broadly neutral, with net cash outflow following the transaction expected to be roughly AU$100 million. Target completion is before the end of fiscal 2025.

Further, the property and investments group maintained its fiscal 2025 earnings guidance of AU$0.54 to AU$0.62 per security while noting a heavy skew to the second half due to the delayed completion of the Military Housing sale.

The company's shares fell past 1% in recent Thursday trade.