Stockland addresses concerns over proposed acquisition

Stockland (ASX:SGP) acknowledges the delay in the final decision by the Australian Competition and Consumer Commission (ACCC) regarding the proposed acquisition of 12 residential masterplanned communities from Lendlease Corporation. Stockland is in discussions with the ACCC to divest its 100% interest in the masterplanned residential community development at Forest Reach in the Illawarra region of NSW to address the concerns raised. The ACCC is expected to make a final decision on 26 September 2024, subject to FIRB and relevant landowner approvals. Stockland will provide an update on its FY25 guidance once all approvals have been obtained.

Stockland's response to ACCC's delay

Stockland is committed to addressing the concerns raised by the ACCC regarding the proposed acquisition. We are in discussions with the ACCC to divest our interest in the masterplanned residential community development at Forest Reach to ensure compliance with regulatory requirements. We will continue to work closely with the ACCC and other relevant authorities to obtain the necessary approvals and provide updates as the process unfolds.

Outlook for Stockland's proposed acquisition and response to ACCC's delay

Stockland (ASX:SGP) is actively engaging with the ACCC to address concerns over the proposed acquisition of residential masterplanned communities. The company is proposing to divest its interest in the masterplanned residential community development at Forest Reach to alleviate regulatory concerns. The final decision from the ACCC is expected on 26 September 2024, subject to additional approvals. Stockland plans to provide an update on its FY25 guidance once all necessary approvals have been secured. The company remains committed to its goal of creating connected communities and contributing to the economic prosperity of Australia while ensuring compliance with regulatory requirements.