FT Reports Prologis Bid on Blackstone’s Logistics Business

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05 April 2022

According to the Financial Times, Prologis has made a bid on Blackstone’s €21 billion logistics and warehouse arm.

Prologis has allegedly made “a non-binding offer of a little over €21 billion” for Mileway, Blackstone’s European logistics business. This would make the deal the largest-ever private real estate transaction.

Blackstone recapitalised Mileway in February 2022, offering investors the option to retain or increase their shareholding, or exit for cash.

The Financial Times reported that Blackstone now has about six weeks to finalise a bid “that satisfies a number of conditions laid down by the funds selling Mileway.”

The news was first reported by React News and then picked up by FT.com.

Who is Prologis?

Prologis, Inc. is a global logistics and real estate business and is known as the world’s largest warehouse owner. The company owns or has investments in properties that total approximately 1.0 billion square feet (93 million square meters) across 19 countries.

Prologis leases logistics facilities to approximately 5,800 customers principally across two categories: business-to-business and retail fulfilment.

Picture: a photograph of a warehouse where a person can be seen pulling a pallet of cardboard boxes. Nearby shelving containing more cardboard boxes can also be seen. Image Credit: Adobe Stock

Article written by Ella Tansley | Published 05 April 2022

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