Lendlease Group (AU:LLC) has released an update.
The Australian Competition & Consumer Commission (ACCC) has raised preliminary concerns about a joint venture between Stockland and Supalai to acquire 12 of Lendlease’s residential masterplanned community projects. The ACCC fears this deal could diminish competition, potentially leading to higher prices, delayed supply, or reduced quality of new housing lots in key Australian regions. Feedback suggests Stockland and Lendlease are significant competitors, particularly in regions like the Illawarra, where the acquisition could consolidate the largest projects in an already concentrated market.
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