Acquirer(s)

  • Stockland Supalai Residential Communities Partnership Pty Ltd

Target(s)

  • Lendlease Group

Summary

Stockland Supalai Residential Communities Partnership Pty Ltd (SSRCP) (a wholly-owned subsidiary of a special purpose acquisition vehicle owned by Stockland Communities Partnership HoldCo Pty Ltd (Stockland) and Supalai Australia Holdings Pty Limited (Supalai)) proposes to acquire 12 masterplanned communities (MPC) projects from Lendlease Group (Lendlease) (proposed acquisition). The MPC projects are located in greenfield growth areas across Greater Sydney, South East Queensland, Greater Melbourne and Greater Perth.

Stockland is a wholly-owned subsidiary of Stockland Corporation Limited (Stockland Group), an ASX-listed diversified Australian property group that owns, funds, develops and manages portfolios of investment properties. Stockland Group has interests in 30 MPC projects across NSW, ACT, Queensland, Victoria and Western Australia.

Supalai is a wholly-owned subsidiary of Supalai Public Company Limited, which is listed on the Stock Exchange of Thailand. Supalai Public Company Limited principally operates as a property developer. Supalai has investments in various MPC projects in Victoria, Queensland and Western Australia through joint ventures with other developers, including Mirvac, Stockland, Satterley, Peet and ICD Property.

Lendlease is an ASX-listed global real estate business. Lendlease has 16 MPC projects in NSW, Queensland, Victoria and Western Australia, 12 of which would be sold under the proposed acquisition.

Market inquiries

Submissions are invited from interested parties regarding the ACCC's Statement of Issues in relation Stockland and Supalai’s proposed acquisition of 12 Lendlease MPC projects by 5pm on 18 July 2024.

Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au with the title: "Submission re: Stockland/Lendlease".

Following 18 July 2024, queries regarding the ACCC's review may also be addressed to mergers@accc.gov.au.

For more details, please refer to the Statement of Issues published below.

Market inquiries

Statement of issues

Timeline

Date Event

ACCC commenced informal review under the Informal Merger Review Process Guidelines.

Closing date for submissions.

Timeline suspended pending receipt of information from the parties.  Former provisional date for announcement of ACCC's findings (18 April 2024)  is delayed.  

ACCC received further information from the parties. Timeline recommenced.

ACCC published a Statement of Issues outlining preliminary competition concerns.

Closing date for submissions relating to Statement of Issues.

Proposed date for announcement of ACCC’s decision.

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