The Czech competition authority, ÚOHS, has granted approval for the merger between Project Aurelia s.r.o. and Palladium Praha s.r.o. in a simplified procedure. This merger will enable Project Aurelia to exclusively control the Palladium shopping center located in Prague.

Project Aurelia is part of a business group led by Erste Group Bank AG, which primarily operates in banking services and financial products. Additionally, Erste Group Bank AG is involved in property leasing and management through its subsidiaries.

Palladium Praha owns the Palladium shopping and entertainment center and is engaged in leasing commercial and office spaces within the building, as well as managing its operations.

The authority concluded that the merger would not significantly disrupt competition in the market, leading to the issuance of a final decision approving the merger.