Blackstone buys Embassy Industrial Parks for Rs 5,250 cr

New Delhi, May 10

Global investment firm Blackstone on Monday announced the acquisition of Embassy Industrial Parks from Warburg Pincus and realty firm Embassy group in a big ticket deal estimated to be worth Rs 5,250 crore.

Blackstone and Embassy group did not disclose the value of the deal, which is one of the largest in Indian logistics and warehousing segment.

In 2015, the Bengaluru-based Embassy group had formed a joint venture with private equity firm Warburg Pincus to build industrial parks.

Warburg Pincus had a 70% stake while the Embassy group has a 30% shareholding in the joint venture firm — Embassy Industrial Parks.

NYSE-listed Blackstone said funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group. — PTI