Blackstone invests INR3bn in Gateway Rail Freight
Major private equity player Blackstone has invested INR3bn ($64.7m) in Gateway Rail Freight, the rail freight unit of Indian logistics firm Gateway Distriparks, according to reports.
Blackstone has subscribed to compulsorily convertible preference shares. On conversion, these will entitle the firm to acquire between 37.27 per cent and 49.9 per cent of the share capital of Gateway Rail Freight (GRFL).
GRFL plans to use the funds to deploy new terminals, additional trains and road trailers, expand capacity at existing terminals and strengthen last mile connectivity.
The acquisition was made by the firm’s Blackstone GPV Capital Partners fund.
In September Blackstone raised its stake in Allcargo Global Logistics to 14.99 per cent with a $23m capital injection.
Copyright © 2009 AltAssets
Article is in the following categories:
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» India
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» India
