World's Largest Landlord Considers $12.3B Industrial Sale
Blackstone is considering a sale of its European logistics arm, Logicor, in a deal that would value the business at $12.3B, including debt. That's CEO Steve Schwarzman pictured above.
Blackstone is considering either dumping the firm’s assets or going forward with an IPO as early as this summer. If the world’s largest alternative asset manager put just 25% of Logicor on the market, it would be one of the largest offerings in European real estate, Private Equity Real Estate News reports.
Any sale could end up a larger version of Blackstone’s 2014 sale of IndCor, its US logistics arm, to Singapore’s sovereign wealth fund for $8.1B. Blackstone first considered an IPO for IndCor as well. [PERE]