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 -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 14.06.2021  
C(2021 ) 4348 final  
PUBLIC VERSION  
Prologis, L.P  
Pier One, Bay One  
CA 94111  San Francisco  
United States of America  
 
Norges Bank Investment Management  
Bankplassen 2, Sentrum  
0107 Oslo  
Norway  
Subject : Case M .10221  – PLD  / NBIM / TARGET ASSE TS 
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 19 May 2021 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Prologis, L.P. (“PLD”, United States of America ) and  Norges Bank 
Investment Management (“NBIM”, Norway ) acquire within the meaning of Article 
3(1)(b) of the Merger Regulation joint control over the whole of ten real estate 
properties located in Germany (“Target Assets ”) by way of purchase of share s and 
assets .3 
2. The business activities of the undertakings con cerned are:  
 for PLD : real estate investment trust which ows, operates and develops real estate 
properties, mainly for industrial purposes, in the Americas, Europ e and Asia,  
 for NBIM : institutional investment for the Government Pension Fund Global 
(“GPFG”) on behalf of the Norwegian Ministry of Finance, focusing on 
                                                 
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 201, 28.5.2021 , p. 16-17. 

2 worldwide investments including real estate investments in North America, 
Europ e and Japan,  
 for the Target Assets : ten real estate properties located in Germany, which are 
primarily used as logist ics facilities but also for other commercial purposes, 
mainly in the Berlin -region, but also in the Duisburg -Lower Rhine -area.  
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  (c) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations 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 appli cation 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 .