MONROE — The owners of Cincinnati Premium Outlets plan to sell Prime Outlets-Jeffersonville in a settlement reached last year with the Federal Trade Commission.

Simon Property Group Inc. filed an application last month for approval to sell the outlet center in Jeffersonville, in Fayette County, to Tanger Properties Limited Partnership of Greensboro, N.C., under a purchase and sale agreement dated March 4, according to the trade commission. The application is open to public comment until May 30. After that, the FTC will decide whether to approve the proposed sale, said Mitchell Katz, commission spokesman.

Tanger Properties could not give any more information because the agreement is subject to the federal commission’s review, said Mona Walsh, Tanger spokeswoman.

Simon Property Group last August closed a $2.3 billion deal to buy 21 outlet center properties for about $2.3 billion, including the Jeffersonville outlets. The FTC ruled that its purchase of Prime Outlets Acquisition Company LLC was anticompetitive in Southwest Ohio.

The FTC announced in November that Simon Property Group agreed to sell one of the outlet centers after reaching a tentative settlement with the federal commission.

On Jan. 13, the FTC approved the final order that Simon Property Group must sell one of the properties.

To restore competition in the market area, the FTC will consider whether the buyer has the financial capability and incentives to acquire and operate the property, according to Simon Property’s application. Tanger doesn’t currently own or operate any Ohio outlet centers, according to Simon’s application.

Written comments about the sale are to be sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580.

Contact this reporter at (513) 705-2551 or clevingston@coxohio.com.