CELEX: 32021M10440
Language: en
Date: 2021-09-22 00:00:00
Title: Commission Decision of 22/09/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10440 - SEGRO / PSPIB / VARIA CLASS LOGISTICS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 22.9.2021
                                                                C(2021) 6965 final
                                                                                 PUBLIC VERSION
                                                                SEGRO Plc
                                                                1 New Burlington Place
                                                                W1S 2HR – London
                                                                United Kingdom
                                                                Public Sector Pension Investment
                                                                Board
                                                                1250 René Lévesque Boulevard West
                                                                Suite 900
                                                                H3B 4W8 – Montréal, Quebec
                                                                Canada
Subject:        Case M.10440 – SEGRO / PSPIB / VARIA CLASS LOGISTICS
                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 24 August 2021, 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 the whole of Varia Class Logistics SL (“Target”, Spain) by
        way of purchase of shares.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,
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 351, 1.9.2021, p. 24-25.
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 PSPIB: management of a diversified global investment portfolio including
        stocks, bonds and other fixed-income securities, and investments in private
        equity, real estate, infrastructure, natural resources and private debt,
       For the Target: ownership of an industrial site situated in Martorelles, Barcelona.
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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