ACCC Extends Decision Date by Two Weeks on Stockland, Lendlease Master-planned Communities Deal

Australia's Competition and Consumer Commission (ACCC) revised the date of its decision on the Stockland Supalai Residential Communities Partnership's acquisition of 12 of Lendlease Group's (ASX:LLC) master-planned communities, according to a Wednesday filing with the Australian bourse.

The decision date has been revised by two weeks to Sept. 26 from Sept. 12, allowing the ACCC to consider Stockland's undertaking related to the sale of one of its master-planned communities in New South Wales, Australia, the filing stated.

Lendlease continues to support Stockland (ASX:SGP) in its engagement with the ACCC to resolve the regulator's issues and satisfy all conditions precedent, which include Foreign Investment Review Board and landowner consents, according to the filing.

Lendlease shares were up almost 1% in recent Wednesday trade.

Price (AUD): $7.14, Change: $+0.060, Percent Change: +0.85%