ACCC decision on sale of communities

Lendlease Corporation Limited (ASX:LLC) acknowledges the decision from the Australian Competition and Consumer Commission (ACCC) not opposing the sale of 12 master-planned communities to the Stockland Supalai Residential Communities Partnership. The sale is subject to conditions precedent, including third-party consents and Foreign Investment Review Board approval, with completion anticipated in 2Q FY25. The financial outcomes of the sale will be updated upon completion.

Executive Commentary

The decision from the ACCC regarding the sale of 12 master-planned communities to the Stockland Supalai Residential Communities Partnership is an important milestone for Lendlease. We are committed to fulfilling the conditions precedent and obtaining the necessary approvals for the completion of this transaction. We will provide further updates on the financial outcomes of the sale as we progress towards completion.

Summary

Lendlease (ASX:LLC) acknowledges the ACCC decision not opposing the sale of 12 master-planned communities to the Stockland Supalai Residential Communities Partnership. The sale is subject to conditions precedent and regulatory approvals, with completion expected in 2Q FY25. The company will update the financial outcomes of the sale upon completion. This decision marks a significant step in Lendlease's strategic initiatives, and the company remains focused on meeting the necessary requirements for the successful conclusion of this transaction.