PARIS-The Polish competition authority has given the go-aheadfor the $920-million acquisition by French-Dutch shopping centreREIT Unibail-Rodamco of shopping centre investor Simon Ivanhoe.Simon Ivanhoe, a jointly-held unit of US retail mall REIT Simon andIvanhoe Cambridge, holds shares in seven shopping centers in Franceand Poland.

The deal was announced in February, but the acquisition of theArkadia and Wilenska malls in Poland was subject to approval by thenation’s Office of Competition and Consumer Protection. Arkadia isthe largest asset in the portfolio with a total retail area of 1.1million square feet, making it one of the biggest malls in CEE.Poland made approval conditional on Unibail-Rodamco relinquishingits management role at the Zlote Tarasy shopping centre.

The group will however retain its economic interest in ZloteTarasy and the right to approve key decisions. Unibail-Rodamco saidcompletion of the Simon Ivanhoe transaction will reinforce itspresence in Warsaw. The group is present in 12 European countriesand owned a portfolio of shopping centers, offices andconvention-exhibition venues valued at $28.7 billion at the end of2009.