Blackstone closes in on Embassy Industrial Parks

Private equity major Blackstone Group is looking to acquire Embassy Industrial Parks from Warburg Pincus and the Embassy Group at an enterprise valuation of $700 million (Rs 51 billion). The transaction among Blackstone, Warburg Pincus and the Embassy Group has been finalised with all the key contours and is expected to be announced soon. This could be the largest-ever logistics and warehousing deal in India that could make Blackstone the country’s biggest warehousing space landlord with over 40 million square feet in logistics park assets.