CELEX: 32021M10221
Language: en
Date: 2021-06-14 00:00:00
Title: Commission Decision of 14/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10221 - PLD / NBIM / TARGET ASSETS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 14.06.2021
                                                                C(2021) 4348 final
                                                                                 PUBLIC VERSION
                                                                Prologis, L.P
                                                                Pier One, Bay One
                                                                CA 94111 San Francisco
                                                                United States of America
                                                                Norges Bank Investment Management
                                                                Bankplassen 2, Sentrum
                                                                0107 Oslo
                                                                Norway
Subject:        Case M.10221 – PLD / NBIM / TARGET ASSETS
                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 19 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Prologis, L.P. (“PLD”, United States of America) and Norges Bank
        Investment Management (“NBIM”, Norway) acquire within the meaning of Article
        3(1)(b) of the Merger Regulation joint control over the whole of ten real estate
        properties located in Germany (“Target Assets”) by way of purchase of shares and
        assets.3
2.      The business activities of the undertakings concerned are:
             for PLD: real estate investment trust which ows, operates and develops real estate
              properties, mainly for industrial purposes, in the Americas, Europe and Asia,
             for NBIM: institutional investment for the Government Pension Fund Global
              (“GPFG”) on behalf of the Norwegian Ministry of Finance, focusing on
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 201, 28.5.2021, p. 16-17.
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---         worldwide investments including real estate investments in North America,
        Europe and Japan,
       for the Target Assets: ten real estate properties located in Germany, which are
        primarily used as logistics facilities but also for other commercial purposes,
        mainly in the Berlin-region, but also in the Duisburg-Lower Rhine-area.
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 (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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