Cargo Breaking News
Blackstone Group, a US-based firm has taken possession of close to 5 million square feet of warehousing area from LOGOS India. Reportedly, the deal has been finalised for a total amount of 1725 Crore. Following this acquisition, Blackstone is now the largest logistics asset-holder in India with a massive 55 million sq ft of warehousing assets. The deal involves acquisition of operational assets in Chennai and Haryana. Previously, Blackstone Group was emerging as the leading bidder in the race for the acquisition of the LOGOS India’s assets, facing tough competition from Singapore’s wealth fund GIC and Japanese conglomerate Mitsui OSK Lines.
