CELEX: 32016M7985
Language: en
Date: 2016-05-17 00:00:00
Title: Commission Decision of 17/05/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.7985 - SEGRO / PSPIB / TARGET ASSETS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 17.5.2016
                                        C(2016) 3047 final

                                        [pic]

|To the notifying parties:                                              |                                                                       |

Dear Sirs,

Subject:    Case M.7985 – SEGRO / PSPIB / TARGET ASSETS
         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 18 April 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which the undertakings 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 of four logistics assets in the Czech Republic (The Damco Building  in
    Hostivice, Prague) and in Italy (Bologna DC 6 — Geodis, Bologna DC 7 — One Express, Castel San Giovanni (CSC)  Building  N)  (together  ‘the
    Target Assets’) by way of purchase of assets.

 2. The business activities of the undertakings concerned are:

      – for SEGRO: owning, managing and developing modern warehousing, light industrial and data centre properties,

      – for PSPIB: managing  stocks,  bonds  and  other  fixed-income  securities  as  well  as  investments  in  private  equity,  real  estate,
        infrastructure and natural resources.[3]

 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 (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 146, 26.04.2016, p. 15.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE