CELEX: 32019M9345
Language: en
Date: 2019-10-04 00:00:00
Title: Commission Decision of 04/10/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9345 - SEGRO / PSPIB / PANATTONI PARK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 4.10.2019
                                                                C(2019) 7304 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9345 - SEGRO/PSPIB/Panattoni Park
                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 9 September 2019, 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 joint
        control over the whole of the real estate asset “Panattoni Park” (Poland) 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;
              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 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;
              for Panattoni Park: a grade A logistics asset located in Wroclaw (Poland),
                 which was developed by the seller, Panattoni, in 2018 and comprises two
                 buildings totalling an area of 38 249 sqm.
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 311, 16.9.2019, p. 6.
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--- 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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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