LONDON (ShareCast) - European industrial property developer SEGRO said, following recent press speculation, it confirms it is in advanced talks with Public Sector Pension Investment Board regarding the contribution of the bulk of SEGRO's Continental European logistics portfolio to seed a joint venture.

"SEGRO would manage the venture and would retain a 50% stake. The intention would be to grow the venture over time," the business space provider said in a company statement.

SEGRO said a further announcement would be made when appropriate.

The group is an asset manager and developer of modern warehousing, light industrial and data centre properties, with £4.7bn of assets, including joint ventures, mostly concentrated in London, France, Germany and Poland.

Shares of the group closed at 276.40p on Friday in London.






CJ

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