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, 25.10.2018  
C(2018 )7226  final 
 
To the notifying parties:  
Subject : Case M. 9119 – SEGRO/PSPIB/W arehouse  
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 1 October 2018 , the European Commission received notification of a proposed 
concentration pursuant to Article 4  of the Merger Regulation, by which  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  joint 
control of a logistics assets (the "Warehouse", Spain), by way of  purchase of assets .3 
2. The business ac tivities 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 PSPIB: investment of net contributions to the pens ion funds of the federal Public 
Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve 
Force, and management of a diversified global portfolio including stocks, bonds and 
other fixe d-income securities, and investments in private equity, real estate 
infrastructure, natural resources and private debt,  
 for the Warehouse: a parcel of land in Granollers (Barcelona, Spain), currently being 
developed into a distribution warehouse, scheduled  for completion in November 2018, 
and for which a pre -let contract has already been signed.  
                                                 
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 t hroughout 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 362, 8.10.2018 , p. 12. 
PUBLIC VERSION  
2 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 s 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 
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)  
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .