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, 4.10.2019  
C(2019 ) 7304 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9345 - SEGRO/PSPIB/ Panattoni Park  
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 September  2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  SEGR O plc 
(“SEGRO”, United Kingdom) and Public Sector Pension Inv estment Board (“PSPIB”, 
Canada ) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint 
control over the whole of the  real estate asset “Panattoni Park”  (Poland ) 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 ; 
 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 includin g stocks, 
bonds and other fixed -income securities, and investments in private equity, 
real estate, infrastructure, natural resources and private debt;  
 for Panattoni Park : a grade A logistics asset located in Wroclaw (Poland), 
which was developed by the sel ler, Panattoni, in 2018 and comprises two 
buildings totalling an area of 38 249 sqm.  
                                                 
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 311, 16.9.2019 , p. 6. 

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 
paragra ph 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)  
Cecilio MADERO VILLAREJO  
Acting Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .