Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of 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 1.2

Description of the concentration

On 19 May 2016, the Commission received a notification of a proposed concentration

pursuant to Article 4 of Council Regulation (EC) No 139/2004, by which SEGRO plc

("SEGRO") and Public Sector Pension Investment Board ("PSPIB") will, indirectly

ultimately through SEGRO European Logistics Partnership S.à r.l. ("SELP"), acquire

a future income producing logistics asset in Italy (the "Target Asset") from

Andromeda S.r.l. (the "Seller"). This Target Asset is due to be leased to Decathlon

Italia S.r.l ("Decathlon") SELP is a joint venture ultimately jointly controlled by SEGRO and

PSPIB. As a result of this Proposed Transaction, SEGRO and PSPIB will acquire indirect

joint control over the Target Asset within the meaning of Article (3)(1)(b) of the EU

Merger Regulation.

The business activities of the undertakings concerned are as follows:

(i) for SEGRO: ownership, asset management and development of modern

warehousing, light industrial and data centre properties located around major

conurbations and at key transportation hubs across a number of EU countries.

ii) for PSPIB: investment 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 as well as investments in private

equity, real estate, infrastructure and natural resources.

(iii) The Target Asset is the logistics asset Torino DC1 located in

Brandizzo in Italy and comprises both a plot of land and a distribution centre currently

under construction.