The global investment bank Goldman Sachs is planning to buy the Blanchardstown shopping centre in West Dublin.
The Competition and Consumer Protection Commission (CCPC) has been notified about the planned deal. Goldman Sachs Merchant Banking Division has confirmed its intention to buy the centre.
The bank described it as an excellent asset in a prime location with a very strong mix of high quality retailers.
The bank has made clear about its plans to refurbish the centre for improving the shopping experience and to maintain it as a world-class retail destination.
The current asset management team, led by Pat Nash, will continue in its role providing leasing, development and real estate management services.
The centre is comprised of a portfolio of real estate assets including the Blanchardstown Centre building, two adjacent retail parks and external retail units, as well as a five storey office building.
The CCPC has opened a preliminary phase one investigation into the deal, with submissions from third parties due by November 30.
Last month, Bloomberg reported that the two parties were talking about a potential deal. Blanchardstown Centre is the largest such facility in the country with over 180 stores, three retail parks and 25 restaurants.
It was bought in 2016 for close to €1 billion, with lenders including Goldman Sachs providing financing. The Covid-19 restrictions have been resulted in the closure of many retail shops.