Blackstone to invest Rs380 crore in Allcargo

To develop logistics parks in key consumption hubs in India, Allcargo Logistics has partnered with Blackstone Group. Blackstone will invest up to Rs380 crore in Allcargo Logistics to develop industrial and logistics parks across India. Blackstone proposes to make its investment in the platform, by way of debt and equity. Allcargo will retain a minority stake in the various logistics assets and transfer its debt as it relates to these specific assets to their relevant subsidiaries. The transaction is expected to conclude in a phase wise manner over the next 12 months, subject to satisfaction of customary closing conditions and achievement of certain milestones. “Through this strategic tie-up, we reiterate our commitment and positioning to create a global benchmark in warehousing infrastructure and provide state-of-the-art warehousing solutions to our customers,” states Shashi Kiran Shetty, Chairman, Allcargo Logistics.