CELEX: 32018M9119
Language: en
Date: 2018-10-25 00:00:00
Title: Commission Decision of 25/10/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9119 - SEGRO plc / Public Sector Pension Investment Board / Warehouse) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 25.10.2018
                                                                C(2018)7226 final
                                                                         PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.9119 – SEGRO/PSPIB/Warehouse
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                          2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 1 October 2018, 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 of a logistics assets (the "Warehouse", Spain), 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, and management of 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 the Warehouse: a parcel of land in Granollers (Barcelona, Spain), currently being
              developed into a distribution warehouse, scheduled for completion in November 2018,
              and for which a pre-let contract has already been signed.
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 362, 8.10.2018, p. 12.
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 paragraphs 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
4  OJ C 366, 14.12.2013, p. 5.
                                                 2