EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 01/09/2021

In electronic form on the EUR-Lex website under document number 32021M10410

EUROPEAN COMMISSION

Brussels, 1.9.2021 C(2021) 6562 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 2W8 Montréal Canada

Dear Sir or Madam,

1.1. On 9 August 2021, 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 a logistics building located in Bredowstraße 25/Porgesring 4, 22113 Hamburg, Germany (the “Target Asset”) by way of purchase of assets.

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.

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3Publication in the Official Journal of the European Union No C 330, 17.8.2021, p. 4-5.

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.

2−− 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.

3.− For the Target Asset: a logistics building with a rental area of 26,408 m in Hamburg, Germany.

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. 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

4OJ C 366, 14.12.2013, p. 5.

2