Prior notification of a concentration (Case M.11765 – SEGRO / PSPIB / REGENSBURG ASSET) – Candidate case for simplified procedure
Date: 2024-12-03
Institutions: Directorate-General for Competition, European Commission
Subjects: Canada, Germany, economic concentration, investment company, logistics, merger control, pension scheme, property leasing, real estate business, storage








C_202407268EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/7268


3.12.2024






Prior notification of a concentration
(Case M.11765 – SEGRO / PSPIB / REGENSBURG ASSET)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/7268)


1.   
On 26 November 2024, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


SEGRO plc (‘SEGRO’, United Kingdom),










—


Public Sector Pension Investment Board (‘PSPIB’, Canada)










—


Regensburg Logistics Asset (the ‘Target Asset’, Germany).




SEGRO and PSBIP will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of the Target Asset.
The concentration is accomplished by way of purchase of assets.


2.   
The business activities of the undertakings concerned are the following:






—


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,










—


PSPIB: manages a diversified global portfolio including stocks, bonds and other fixedincome securities, and investments in private equity, real estate, infrastructure, natural resources and credit investments. It is 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,










—


The Target Asset: two logistics buildings and development land located in Regensburg, Germany. The Target Asset is currently under lease to third parties.






3.   

Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.



4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.11765 – SEGRO / PSPIB / REGENSBURG ASSET
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/7268/oj
ISSN 1977-091X (electronic edition)