The competition regulator has cleared developer Lendlease’s drawn-out $1.3bn sale of 12 housing estates to listed rival Stockland and Thai-owned group Supalai, with the move expected to spark earning upgrades for the buyer.
The Australian Competition & Consumer Commission, which had raised competitive concerns about the deal, has accepted a court-enforceable undertaking from Stockland to divest the Forest Reach housing project in the Illawarra region of NSW.