European Commission - Daily News
Brussels, 16 June 2016
The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Torino DC1, an Italian real estate asset, by SEGRO plc of the UK and Public Sector Pension Investment Board ("PSPIB") of Canada via their joint venture SEGRO European Logistics Partnership.
Torino DC1 is located in Brandizzo, in Italy and comprises a plot of land and a distribution centre/logistics building currently under construction. Torino DC1’s asset will be let to the retailer Decathlon. 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 transaction 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.8052.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Giulia Komel – Tel.: +32 229 61175)
Source: Europa.eu (Copyright European Commission)