Following a public comment period, the Federal Trade Commission has approved an application filed by Simon Property Group, Inc. seeking approval to divest its Prime Outlets outlet center in Jeffersonville, Ohio, to Tanger Properties Limited Partnership. Simon is required to divest one of its two outlet centers located in Southwest Ohio under the FTC’s January 13, 2011 decision and order. The FTC required a divestiture in this geographic market as part of a settlement to remedy the lessening of competition in retail space at outlet centers resulting from Simon’s acquisition of Prime Outlets Acquisition Company LLC, which occurred in August 2010.
The Commission vote approving Simon’s divestiture application was 5-0. (FTC File No. 101-0061, Docket No. C-4307; the staff contact is Elizabeth A. Piotrowski, Bureau of Competition, 202-326-2623; see press release dated November 10, 2010.)
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