Blackstone’s real estate fund buys 10 pct stake in Logicor- FT

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2017-12-12 05:41:50

Dec 12 (Reuters) – Blackstone Group LP’s real estate fund is taking a 10 percent stake in European warehouse firm Logicor Ltd (IPO-LOG.L), the Financial Times reported on Tuesday citing people briefed on the matter.

The private equity group in June had agreed to sell Logicor to Chinese sovereign wealth fund China Investment Corp for 12.25 billion euros ($14.42 billion).

China Investment Corp also hired Blackstone to manage Logicor’s warehouses and logistic properties portfolio, the report said. on.ft.com/2C3V70Z

Blackstone’s recently-raised $2 billion European fund is one of several investors that the Chinese sovereign wealth fund has invited to buy stakes in Logicor, with several insurers also looking at the company, the report added.

Blackstone, China Investment Corp and Logicor were not immediately available for comment outside regular business hours. ($1 = 0.8495 euros) (Reporting by Shubham Kalia in Bengaluru; Editing by Sunil Nair)

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