CELEX: 32016M8205
Language: en
Date: 2016-10-03 00:00:00
Title: Commission Decision of 03/10/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8205 - SEGRO / PSPIB / SELP / GLIWICE 5 LOGISTICS ASSET) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 3.10.2016
                                        C(2016) 6437 final

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                                        To the notifying parties

Dear Madam, dear Sir,

Subject:    Case M.8205 – SEGRO / PSPIB / SELP / Gliwice 5 Logistics Asset
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 07 September 2016, the European Commission received notification of a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which SEGRO plc ("SEGRO", UK) and Public Sector Pension Investment Board  ("PSPIB",  Canada)  will  indirectly  through  SEGRO
    European Logistics Partnership SARL (‘SELP’, Luxembourg), acquire within the meaning of Article  3(1)(b)  of  the  Merger  Regulation  joint
    control of an income producing logistics asset in Poland (the "Target Asset"), which is currently under the indirect sole control of  SEGRO,
    by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

      – for SEGRO: ownership, asset management and development of modern warehousing, light industrial and data centre properties located  around
        major conurbations and at key transportation hubs across a number of EU countries.

      – for PSPIB: investment 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, bonds and other fixed-income securities as well
        as investments in private equity, real estate, infrastructure and natural resources.

      – for the Target Asset: logistics warehouse asset in Gliwice, Poland, which is currenly leased to a tenant in the manufacturing industry.

 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) 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

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[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 337, 14.09.2016, p. 8.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE