Blackstone to invest up to Rs 380 crore in Allcargo Logistics warehosuing arms

January 14 , 2020
Publication: Mint
Source: https://bit.ly/2xGC67A

Private equity (PE) giant Blackstone Group is investing ?380 crore to buy a majority stake in the warehousing business of Mumbai-based Allcargo Logistics Ltd for developing logistics parks in key consumption hubs across India.

Blackstone proposes to make the investment through debt and equity, according to a statement issued by Allcargo on Monday.

“Allcargo will retain a minority stake in the various logistics assets and transfer its debt as it relates to these specific assets to their relevant subsidiaries," the statement said. “The transaction is expected to conclude in a phased manner over the next 12 months."

The partnership will also help Allcargo’s growing third-party logistics business, the company said.

 

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