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) from Lendlease Group (Lendlease) (proposed acquisition). The masterplanned communities 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 developments 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 MPCs 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 developments 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 Stockland and Supalai’s proposed acquisition of 12 Lendlease master planned communities by 5pm on 23 February 2024.
Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au with the title: "Submission re: Stockland/Lendlease".
Queries regarding the ACCC’s review may also be addressed to mergers@accc.gov.au.
For more details, please refer to the Market Inquiries Letter published below.
Market inquiries
| Document title | Date | |
|---|---|---|
| Stockland_Lendlease - Market Inquiries Letter |
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. The ACCC will announce a revised proposed decision date in due course. |