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SEGRO / PSPIB / SELP / TREZZO
M.8171
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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 22 August 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 by
means of an asset purchase agreement an income producing logistics asset in Italy (the
"Target Asset") from BNP Paribas REIN SGR p.A. (the "Seller").
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 net contributions to the pension funds of the federal Public
Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It
manages a diversified global portfolio composed of investments in public financial markets,
private equity, real estate, infrastructure, natural resources and private debt.
(iii) The Target Asset is the logistics warehouse asset, Trezzo, located in the industrial area of
Trezzo on the outskirts of Milan in Italy.