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, 29.6.2021 
C(2021)  4944 final  
PUBLIC VERSION 
Public Sector Pension Investment Board  1250 René Lévesque Boulevard West Suite 1400  
H3B 4W8 – Montréal  
Canada  
 Aviva Life & Pensions UK Limited  
Wellington Row, York  
YO90 1WR – North Yorkshire  
United Kingdom  
Subject : Case M. 10289 – PSP / AVIVA / 10 STATION ROAD  
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 4 June 2021, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Public Sector 
Pension Investment Board (“PSP”, Canada) and Aviva Plc Group (“Aviva”, United 
Kingdom) acquire w ithin the meaning of Article 3(1)(b) of the Merger Regulation 
joint control of the whole of 10 Station Road (United Kingdom)  by way of purchase 
of assets.3 
2. The business activities of the undertakings concerned are:  
− for PSP: the pension investment manager of the pension plans of the Canadian 
Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It manages a diversified global portfolio including stocks, 
                                                 
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 222, 11.6. 2021 , p. 25. 

2 bonds and other fixed- income securities as well as investments in private equity, 
real estate, infrastructure, natural resources and credit investments,  
− for Aviva: a UK incorporated listed company operating in the insurance sector. 
Aviva Plc is listed on the main market of the  London Stock Exchange. Aviva’s 
group provides a broad range of insurance, savings and investment products 
across 16 countries. Aviva’s group is principally active in the UK, France and Canada but also has operations elsewhere in Europe and Asia,  
− For 10 Station Road : an office building situated on 10 Station Road in 
Cambridge, CB1, United Kingdom.  
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) 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)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5.