Mergers: Commission clears acquisition of joint control over logistics asset in Spain by SEGRO and PSPIB

 The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over CAT SITE, a 5.3 hectare plot of land leased as a car park in Madrid, Spain, , by SEGRO plc (SEGRO) 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. of Luxembourg. SEGRO is a real estate investment trust focused on warehousing and light industrial properties. PSPIB is a pension investment manager with a global portfolio including stocks, bonds and investments in private equity, real estate, infrastructure, natural resources, and private debt. The Commission concluded that the proposed acquisition would raise no competition concerns because of the limited changes it brings to the market. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case registerunder the case number M.8521

 

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