Stockland's response to media speculation and progress with ACCC discussions

Stockland (ASX:SGP) confirms it is in discussions with the Australian Competition and Consumer Commission (ACCC) regarding a proposal to divest its 100% interest in the masterplanned residential community development at Forest Reach in the Illawarra region of NSW. The proposal aims to address concerns raised regarding the proposed acquisition of the 12 masterplanned residential communities by the Stockland Supalai Residential Communities Partnership. The ACCC's decision on the proposed acquisition is expected to be announced on 12 September 2024, subject to potential timeline changes. The transaction is also subject to FIRB and relevant landowner approvals. Stockland plans to provide an update on its FY25 guidance once all approvals have been obtained.

Executive commentary on Stockland's commitment and approach

We are committed to contributing to the economic prosperity of Australia and the wellbeing of our communities and our planet. Our approach is distinctive, bringing a unique combination of development expertise, scale, deep customer insight, and diverse talent - with care in everything we do.

Summary of Stockland's divestment proposal and outlook

Stockland (ASX:SGP) is progressing discussions with the ACCC regarding a proposal to divest its 100% interest in the masterplanned residential community development at Forest Reach in the Illawarra region of NSW. The company aims to address concerns raised regarding the proposed acquisition of the 12 masterplanned residential communities by the Stockland Supalai Residential Communities Partnership. The ACCC's decision on the proposed acquisition is expected to be announced on 12 September 2024, subject to potential timeline changes. The transaction is also subject to FIRB and relevant landowner approvals. Stockland plans to provide an update on its FY25 guidance once all approvals have been obtained. Stockland's commitment to contributing to the economic prosperity of Australia and the wellbeing of communities and the planet is evident in its distinctive approach, combining development expertise, scale, deep customer insight, and diverse talent with care in everything they do.