Blackstone Group LP is gearing up for an IPO of its European logistics business Logicor, Reuters reported, citing people familiar with the matter.

One source engaged in the process told the news outlet that the private equity giant already picked Goldman Sachs and Eastdil Securities to aid in the planned listing, although it has yet to appoint the global coordinators.

Including debt, the firm could be worth about €13 billion, the unnamed source reportedly said.

While the date and place of the IPO remain uncertain, other leading investment banks had indicated interest in the process, Reuters reported.

Founded in 2012, Logicor now owns a portfolio of 13.6 million square meters of modern logistics and distribution assets across Europe.