CELEX: 32020M9988
Language: en
Date: 2020-11-25 00:00:00
Title: Commission Decision of 25/11/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9988 - SEGRO / PSPIB / SELP / GONESSE SITE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 25.11.2020
                                                                C(2020) 8435 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9988 – SEGRO / PSPIB / SELP / GONESSE SITE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 30 October 2020, 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
        indirect joint control of the whole of Gonesse Site Asset (‘the Target’, France) through
        SEGRO European Logistics Partnership S.à.r.l (‘SELP’, Luxembourg) 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, such as, the
              Czech Republic, Germany, Spain, France, Italy, the Netherlands, Poland and the
              United Kingdom,
             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 is active globally and manages a diversified global portfolio
              including stocks, bonds and other fixed-income securities, and investments in
              private equity, real estate, infrastructure, natural resources and private debt,
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 377, 9.11.2020, p. 17.
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.
 ---pagebreak---        for the Target: a logistics building with a rental area of 10 846 m2, which lies
        North of Paris, France in the ZAC des Tulipes Nord, avenue du XXIème Siècle in
        Gonesse. It is currently under lease to a third party and primarily used as a
        warehouse.
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)
                                                   Olivier GUERSENT
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
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