Commission européenne, DG  COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 1.9.2021  
C(2021) 6562 final  
PUBLIC VERSION 
SEGRO plc  
1 New Burlington Place  
W1S 2HR London  
United Kingdom  
 
Public Sector Pension Investment 
Board 
1250 René -Lévesque Boulevard West 
Suite 900 
H3B 2W8 Montréal  
Canada  
Subject : Case M. 10410 – SEGRO / PSPIB / TARGET ASSET IN HAMBURG  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 9 August 2021, 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 Mer ger Regulation join t control of a logistics building located in  Bredowstraße 
25/Porgesring  4, 22113 Hamburg, Germany  (the “ Target Asset ”) by way of purchase 
of assets.3 
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.  
                                                 
1 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.  
2  OJ L 1, 3.1.1994, p. 3 ( the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 330, 17.8.2021, p. 4- 5. 

2 − For PSPIB: management of a diversified global investment portfolio including 
stocks, bonds and other fixed-income securities, and investments in private 
equity, real estate, infrastructure, natural resources and private debt.  
− For the Target Asset: a logistics building with a rental area of 26,408 m2in 
Hamburg, Germany.  
3. After exami nation 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 (c) of the Commission Notice on a simplified procedure for 
treatment of certain concentr ations under Council Regulation (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 . 
For the Commission  
  
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.