TransIndia Real Estate to sell stake in logistics parks to Blackstone
June 06 , 2023
Source: Economic Times
TransIndia Real Estate is selling stake in its logistics parks to funds managed by global investment firm Blackstone. The company is the real estate firm demerged from Allcargo Logistics. It is engaged in the development and leasing of industrial and logistics parks, commercial space and holds other real estate assets.
The company also aims to set up logistics parks in Kolkata, Mumbai and Bengaluru at an investment of Rs 1,500 crore over two years. Part of the proceeds will go into the investment in setting up the parks.
“The divestment includes the sale of a logistics park in Jhajjar and 10% stake held in other parks. This transaction will result in significant cash proceeds and provide for growth plans of TransIndia Real Estate Limited (Formerly known as TransIndia Realty & Logistics Parks Limited),” said a senior executive.
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