The President of UOKiK has approved the takeover of shopping malls in Kłodzko, Wrocław and Zamość by Echo Polska Properties. The concentration scheme in question shall not result in a restriction of competition

Business range of the parties involved in the concentration scheme includes rental of retail space at shopping malls. The transaction involves the acquisition of the following shopping malls by Echo Polska Properties: Galeria Twierdza in Kłodzko and Zamość, and Galeria Wzorcownia in Włocławek.

The proceedings conducted by the UOKiK demonstrated that the concentration scheme in question shall not result in a restriction of competition. The undertakings involved operate in different towns, so the structure of markets they are present in shall not change.

Initially, Echo Properties Poland also wanted to acquire Galeria Tęcza shopping mall in Kalisz. The UOKiK referred the case to the second stage of the proceedings and the undertaking withdrew the application for the concentration approval. It submitted it again, but then it abandoned the acquisition of the retail facility in Kalisz.

According to the law, the merger is subject to notification to the antitrust authority if it involves undertakings whose aggregate turnover generated in the preceding year exceeded EUR 1 billion worldwide or EUR 50 million in Poland.

The decisions approving the concentration expire if the merger is not completed within 2 years of their adoption.

Additional information for the media:

Press Office of the UOKiK
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Phone: 22 55 60 430
Email: [SCODE]Yml1cm9wcmFzb3dlQHVva2lrLmdvdi5wbA==[ECODE]

Twitter: @UOKiKgovPL