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Blackstone, partners plan $23.77 billion recapitalization of logistics firm Mileway -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Signage seen at The Blackstone Group Headquarters in Manhattan, New York (USA), November 12, 2021. REUTERS/Andrew Kelly

(Reuters] -Blackstone Inc stated Tuesday that Mileway’s existing investors have agreed to recapitalize Mileway for 21 billion Euros ($23.77 Billion).

Existing investors in Mileway, the largest owner of last-mile logistics real estate assets in Europe, have been offered a chance to retain or increase their shareholding, or exit for cash, the company said https://refini.tv/3GQtV67.

Blackstone (NYSE 🙂 stated that the recapitalization will be subject to a “go shop” process. This will begin immediately and last up to 75 business days.

James Seppala (Blackstone’s Head of Real Estate Europe), stated in a statement that logistics is “one of our most conviction themes worldwide and the sector continues its resiliency, and strong growth potential.”

According to Mileway’s website, the company has more than 1,700 assets in 10 European countries. It also boasts over 350 employees spread across 26 offices.

Blackstone stated that the vast majority of capital needed for recapitalization will come from existing investors.

($1 = 0.8834 euros)

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