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<MERGERS: Commission Approval

Commission clears acquisition of Pusignan DC1 by SEGRO and PSPIB

The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Pusignan DC1, a French logistics asset by SEGRO of the UK and the Public Sector Pension Investment Board (PSPIB) of Canada, via their joint venture SEGRO European Logistics Partnership of Luxembourg. Pusignan DC1 is a building located in Lyon, France, currently let to a home furnishing retailer. SEGRO 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.8122. (For more information: Lucía Caudet - Tel.: +32 229 56182; Yizhou Ren - Tel.: +32 229 94889)

Source: European Commission