trending Market Intelligence /marketintelligence/en/news-insights/trending/KlUn9XgSbj5V3t0VyLSTPg2 content esgSubNav
In This List

Blackstone to buy stake in Allcargo Logistics' warehousing business

Blog

Insight Weekly: SVB fallout limited; US rents up; renewable natural gas investments flow in

Blog

Bank failures: The importance of liquidity and funding data

Blog

Staying Strong in Volatile Markets: How Banks Can Overcome Challenges to Funding and Lending

Blog

A Cloud Migration Plan for Corporations featuring Snowflake®


Blackstone to buy stake in Allcargo Logistics' warehousing business

The Blackstone Group Inc. agreed to invest up to 3.8 billion Indian rupees for a stake in the warehousing business of India-based Allcargo Logistics Ltd.

The private equity giant will make the investment through BRE Asia Urban Holdings Ltd. via a combination of equity and debentures. The parties aim to make further investment in the future to develop industrial and logistics parks across certain key markets of India.

In line with the transaction, which was approved by Allcargo's board, the company will relinquish control of certain subsidiaries involved in the warehousing business and will hold a minority interest in such subsidiaries.

The deal is set to close in phases over the next 12 months, subject to certain conditions.

As of Jan. 10, US$1 was equivalent to approximately 70.94 Indian rupees.