TPG Capital and Partners Group to acquire 5 European shopping hubs

TPG Capital and Partners Group’s joint acquisition of a series of retail assets in Spain and Italy was given green light last week by the European Commission after determining it would raise no competition concerns.

The operation involves two retail parks and three shopping centres, including the Miramar Retail Park and Shopping Centre in Spain’s Fuengirola and the Metropolis Shopping Centre in Italy’s Rende.

Also in Italy the Centro Navile Retail Park in Bologna and in Spain and the L'Aljub Shopping Centre in Elche are set to be acquired by the two private investment firms.

The proposed merger was notified to the European Commission in May. The institution examined the proposal to see if it would significantly impede effective competition in the UE, and determined it would not do so on Friday 24, June.

The joint acquisition was approved under the EU Merger Regulation.