The Australian Competition and Consumer Commission has given Lendlease and Stockland a two-month deadline to cut one-third of the assets out of their agreed $1.3 billion master-planned community sale or convince the watchdog its concerns about less competition are unfounded.
The antitrust regulator on Thursday further delayed a final decision on Lendlease’s $1.3 billion housing portfolio sale to Stockland to mid-September from today, saying the proposed transaction could lessen competition in four regional residential markets.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
