Commission Decision No. 20-M-019/2018
Acquisition by Suntrust Properties Inc. of Shares in Stateland Inc.
The proposed transaction involves the acquisition by Suntrust Properties, Inc. (Suntrust) of 96.873% of the issued and outstanding capital stock of Stateland, Inc. (Stateland). Post-transaction, Stateland will be a majority-owned subsidiary of Suntrust.
Suntrust is a domestic corporation, which together with its subsidiaries, primarily engages in the real estate business. The ultimate parent entity of Suntrust is Alliance Global Group, Inc., a listed holding company with operating businesses in real estate development, tourism-entertainment and gaming, food and beverage, and quick-service restaurants.
Stateland is a domestic corporation primarily engaged in the development of affordable subdivision residential lots, house and lots, and commercial spaces.