Lendlease's Support for Stockland in ACCC Discussions

Lendlease Corporation Limited (ASX:LLC) has noted the media speculation surrounding the Australian Competition and Consumer Commission (ACCC) process related to the Stockland Supalai Residential Communities Partnership's acquisition of 12 of the Group's master-planned communities. Stockland's announcement today highlighted its ongoing discussions with the ACCC regarding an undertaking related to one of its own master-planned communities, Forest Reach, in the Illawarra region of NSW. The ACCC is expected to announce its decision on the transaction on 12 September 2024, subject to the finalization of its review.

Executive Commentary on ACCC Discussions

Lendlease continues to extend its support to Stockland in addressing the concerns raised by the ACCC and working towards meeting all conditions precedent for the completion of the transaction. We are committed to collaborating with Stockland to facilitate the resolution of the issues raised by the regulator.

Summary of ACCC Process Update

Lendlease (ASX:LLC) has reaffirmed its support for Stockland in the ongoing discussions with the ACCC regarding the acquisition of master-planned communities. The ACCC's decision on the transaction is expected on 12 September 2024, contingent upon the completion of its review. Lendlease remains dedicated to assisting Stockland in resolving the concerns raised by the ACCC and fulfilling all necessary conditions for the transaction's completion.