Private equity major Blackstone Group is set to acquire Embassy Industrial Parks for Rs 5,250 crore from Warburg Pincus and Embassy Group in the largest ever logistics and warehousing deal in India, reported by The Economic Times.
It would also be India’s first large private equity (PE) transaction of 2021 and the largest ever logistics and warehousing deal in the country.
About Embassy Industrial Park
Embassy Industrial Parks is a joint venture between Warburg Pincus and Embassy in the ratio 7:3 and has total 22 million sqft assets.
Blackstone already has 18 million sqft warehousing assets in its portfolio through its stake buys in Hiranandani Group and Allcargo Logistics’ warehousing assets.
Out of total 22 million sqft assets of Embassy Industrial Parks, 3.5 million sqft are built and leased to clients including Amazon, Mahindra Logistics, FirstCry, Myntra, Delhivery and Rhenus Logistics among others.
India’s largest landlord
The Blackstone will become the country’s largest warehousing space landlord with over 40 million sqft logistic parks in assets, after the transaction.
It is already India’s largest office space landlord and now, it is set to become the biggest retail assets owner too with the conclusion of its $1.5 billion deal with Prestige Group.
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