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<MERGERS: Commission Approval

Commission clears acquisition of joint control of an Italian logistics warehouse by SEGRO and PSPIB

The European Commission has approved under the EU Merger Regulation the acquisition of joint control over a logistics warehouse in Trezzo, Italy, by SEGRO plc of the UK and the Public Sector Pension Investment Board (PSPIB) of Canada, via their joint venture SEGRO European Logistics Partnership S.à.r.l. (SELP) of Luxembourg. The logistics warehouse is located in the industrial area of Trezzo on the outskirts of Milan and is currently leased to a food retailer. SEGRO plc is a real estate investment trust that owns, manages and develops modern warehousing, light industrial and data centre properties. PSPIB invests the pension plans of the Canadian public sector in a diversified global portfolio including stocks, bonds, private equity, real estate, infrastructure and natural resources. The Commission concluded that the proposed acquisition would raise no competition concerns because of its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8171. (For more information: Ricardo Cardoso - Tel.: +32 229 80100; Angela Nardella - Tel.: +32 229 86801)

Source: European Commission