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: 25/11/2020

In electronic form on the EUR-Lex website under document number 32020M9988

EUROPEAN COMMISSION

Brussels, 25.11.2020 C(2020) 8435 final

PUBLIC VERSION

To the notifying parties

Dear Sir or Madam,

1.1. On 30 October 2020, 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 indirect joint control of the whole of Gonesse Site Asset (‘the Target’, France) through SEGRO European Logistics Partnership S.à.r.l (‘SELP’, Luxembourg) 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, such as, the Czech Republic, Germany, Spain, France, Italy, the Netherlands, Poland and the United Kingdom,

 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. It is active globally and manages 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,

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 377, 9.11.2020, p. 17.

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.

 for the Target: a logistics building with a rental area of 10 846 m2, which lies North of Paris, France in the ZAC des Tulipes Nord, avenue du XXIème Siècle in Gonesse. It is currently under lease to a third party and primarily used as a warehouse.

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 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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