# m8528.docx

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EUROPEAN COMMISSION

Brussels, 25.7.2017

PUBLIC VERSION

C(2017) 5384 final

C(2017) 5384 final

To the notifying parties

To the notifying parties

Subject:Case M.8528 – SEGRO / PSPIB / SELP / MORGANE PORTFOLIO 

  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
  1
  and Article 57 of the Agreement on the European Economic Area
  2

Subject

:

Case M.

8528

–

SEGRO / PSPIB / SELP / MORGANE PORTFOLIO

Commission decision pursuant to Article 6(1

)(

b) of Council Regulation (EC)

No

139/2004

1

and Article 57 of the Agreement on the European Economic Area

2

Dear Sir or Madam,

Dear Sir or Madam,

1.On 29 June 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings SEGRO plc (‘SEGRO’, United Kingdom) and Public Sector Pension Investment Board (‘PSPIB’, Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation, through SEGRO European Logistics Partnership S.à r.l. (‘SELP’, Luxembourg), joint control over an income producing logistics asset (‘Morgane Portfolio’, France) by way of purchase of assets.
  3

1.

On

29

June

2017

,

the

European

Commission received notification of a proposed concentration pursuant to Article 4

of

the

Merger

Regulation by which

the undertakings SEGRO plc (‘SEGRO’, United Kingdom) and Public Sector Pension Investment Board (‘PSPIB’, Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation, through SEGRO European Logistics Partnership

S.à

r.l

. (‘SELP’, Luxembourg), joint control over an income producing logistics asset (‘

Morgane

Portfolio’, France) by way of purchase of assets.

3

2.The business activities of the undertakings concerned are:

2.

The business activities of the undertakings concerned are:

-for SEGRO: ownership, asset management and development of modern warehousing and light industrial properties located around major conurbations and at key transportation hubs across a number of EU countries,

-

for SEGRO: ownership, asset management and development of modern warehousing and light industrial properties located around major conurbations and at key transportation hubs across a number of EU countries,

-for PSPIB: investment of net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It manages a diversified global portfolio including stocks, bonds and other fixed-income securities, and investments in private equity, real estate, infrastructure, natural resources and private debt,

-

for PSPIB: investment of net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It manages a diversified global portfolio including stocks, bonds and other fixed-income securities, and investments in private equity, real estate, infrastructure, natural resources and private debt,

-for Morgane Portfolio: a logistics asset located in Nîmes, France.

-

for

Morgane

Portfolio: a logistics asset located in

Nîmes

, France.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) and 5(c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.
  4

3.

After examination of the notification, the

European

Commission has concluded that the notified operation falls within

the scope of

the

Merger

Regulation

and of paragraph 5

(

a

)

and 5

(

c

)

of the Commission Notice on a simplified procedure for treatment of certain concentrations under

Council Re

gulation (EC)

No

139/2004

.

4

4.For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

4.

For the reasons set out in the Notice on a simplified procedure, the

European

Commission has decided not to oppose the notified operation and to declare it compatible with the

internal

market and with the EEA Agreement. This decision is adopted in application of Article 6(1

)(

b) of

the

Merger

Regulation

and Article 57 of the EEA Agreement

.

For the Commission

For the Commission

(Signed)

  Johannes LAITENBERGER
  Director-General

(

Signed

)

Johannes LAITENBERGER

Director

-

General

OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of the TFEU will be used throughout this decision.

OJ C 366, 14.12.2013, p. 5.