Blackstone Group to invest Rs 380 cr in Allcargo's logistics park vertical

Allcargo to become minority stake holder in its logistics park business

In a bid to lower its debt burden, Allcargo Logistics Ltd, part of Avvashya Group, has partnered with Blackstone Group, to become a minority stakeholder in the companys’ logistics park vertical.

Blackstone Group, the global private equity investor, will be investing up to Rs 380 crore in the logistics park vertical to develop industrial and logistics parks across India, said Allcargo in a release on Monday.

“We plan to dilute our stake and become a minority shareholder in the five-logistics park section which will reduce our debt by about 90 per cent. We should be making an announcement on logistics park stake