Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 4

Description of the concentration

On 25 November 2024, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004, by which each of SEGRO plc (established and registered in the United Kingdom) ("SEGRO") and Public Sector Pension Investment Board (established and registered in Canada) ("PSPIB") will, indirectly through SEGRO European Logistics Partnership S.à.r.l. (registered in Luxembourg) ("SELP"), acquire joint control over a logistics asset in Germany (the "Target Asset") by way of an asset purchase.

SEGRO is active in the following countries in the EEA: Czech Republic, Germany, Spain, France, Italy, Netherlands, Poland, and the United Kingdom. SEGRO is not active in countries outside the EEA.

PSPIB’s Real Estate portfolio is diversified across real estate sectors and geography. It includes multi-family residential properties as well as office, retail and industrial assets, located in Canada, the U.S., Europe, developed Asia, Australia and emerging countries.

The business activities of the undertakings concerned are as follows:

• 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; and

• for PSPIB: it is a Canadian Crown corporation, and is the pension investment manager of the pension plans of the Canadian 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 credit investments.

• The Target Asset is an asset comprised of two logistics buildings and development land located in Regensburg, Germany. The Target Asset is currently under lease to third parties.

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