Blackstone Group is in talks to invest Rs 15 billion ($209 million) in a venture with Allcargo Logistics to build warehouses in India, people with knowledge of the matter said. A real estate unit of the US private equity firm is considering owning 51 per cent of the venture, the people said, asking not to be identified as the discussions are private.

Talks are still continuing and the contours of the deal may change, they said. Allcargo is talking with other investors as well, one of the people said. Blackstone is expanding into logistics in India to tap the growing demand for warehouses as ...

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