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Home / Business / Blackstone acquires Embassy Industrial Parks from Warburg Pincus and Embassy group

Blackstone acquires Embassy Industrial Parks from Warburg Pincus and Embassy group

Though the global investment firm did not disclose the value of the deal, it is one of the largest in the Indian logistics and warehousing segment
Representational image.
Representational image.
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Our Special Correspondent   |   Mumbai   |   Published 11.05.21, 12:44 AM

Blackstone has acquired Embassy Industrial Parks from Warburg Pincus and realty firm Embassy group in a deal estimated at Rs 5,250 crore.

Though the global investment firm did not disclose the value of the deal, it is one of the largest in the Indian logistics and warehousing segment.

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

Warburg Pincus held a 70 per cent stake in the joint venture firm — Embassy Industrial Parks — with the rest being held by the Embassy group.

Blackstone on Monday said in a statement that funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group. The deal will be concluded in two stages. In the first stage, Blackstone will buy Embassy Industrial Parks for around Rs 1,750 crore. In the second stage, Blackstone will buy a few land parcels directly from the Embassy group.



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