Constraining Australia's Stockland post-Lendlease deal would've been tough without divestment
( November 18, 2024, 05:28 GMT | Official Statement) -- MLex Summary: Given the limited number of existing and future developments in the Illawarra region, constraining Stockland post-acquisition would have been difficult without divestment, the Australian competition regulator has said. The Australian Competition & Consumer Commission has published an assessment document detailing the full reasons for its September decision to clear Stockland and Supalai’s acquisition of 12 Lendlease residential community projects through a joint venture, with the regulator accepting Stockland’s undertaking to divest the Forest Reach master-planned community project in the Illawarra region of New South Wales. The competition watchdog said that its investigation found there are only few existing alternative MPC developments in this region, many of which are unlikely to expand or accelerate their lot releases in response to potential market dominance by Stockland post-acquisition.The full competition assessment document published by the Australian Competition & Consumer Commission is attached:...
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