An international investor consortium led by Allianz has been given a green light from the Office of Competition and Consumer Protection (UOKiK) to purchase the fifth biggest shopping mall in Poland – Silesia City Center.
The conditional contract between the consortium and the present owner Immofinanz Group was signed in May this year. The transaction was subject to suspensive conditions including the agreement of UOKiK. The positive decision of the Office means that the takeover would not limit market competition.
The consortium will pay EUR 412 million for the mall. The purchase price exceeds the respective carrying amount. According to the decisions made in May, the transaction closing is expected to take place in September 2013.
With approximately 86 000 sq. meters of selling space and over 300 shops, Silesia City Center is the market leader in Silesia. This Immofinanz property has received numerous prizes and was one of the winners at the ICSC European Shopping Center Awards in 2013.