Lendlease update on ACCC decision

Lendlease Corporation Limited (ASX:LLC) has taken note of the Australian Competition and Consumer Commission's (ACCC) announcement regarding the Stockland Supalai Residential Communities Partnership's acquisition of 12 of the Group's master-planned communities. The ACCC has revised the expected decision publication date from 12 September 2024 to 26 September 2024, allowing additional time to consider Stockland's undertaking related to the disposal of one of its master-planned communities in the Illawarra region of NSW, Forest Reach.

Executive Commentary on ACCC decision extension

Lendlease continues to extend its support to Stockland in addressing the concerns raised by the ACCC and working towards meeting all conditions precedent, including FIRB and landowner consents, for the completion of the transaction. The two-week extension by the ACCC is aimed at facilitating a thorough review of Stockland's undertaking related to the disposal of a master-planned community, Forest Reach, in the Illawarra region of NSW.

Summary of ACCC decision extension

The ACCC has extended the decision publication date to 26 September 2024 to allow for a comprehensive review of Stockland's undertaking regarding the disposal of a master-planned community, Forest Reach, in the Illawarra region of NSW. Lendlease remains committed to supporting Stockland in addressing the concerns raised by the ACCC and fulfilling all necessary conditions for the successful completion of the transaction. The company looks forward to the resolution of the regulatory matters and the timely completion of the acquisition.