The investment company, which might have decided to sell the company by selling it or taking it public, chose instead to double down, with a value raised to 21 billion euros.
The American investment company Blackstone has decided to continue its bet on the network of warehouses located near the delivery points that it has built up in recent years in Europe, Mileway, by recapitalizing it for a value of 21 billion euros. euros, according to a press release on Tuesday.
Blackstone launched Mileway in 2019 with the idea of bringing together locations for “last mile logistics,” the journey from the last warehouse to the customer’s doorstep. The company was then valued at 8 billion euros.
It has since grown and now has 1,700 sites in 10 European countries representing 14.7 million square meters.
Blackstone, which might have decided to sell Mileway by selling it or taking it public, chose instead to double down.
Investors already present in the capital have agreed to keep or increase their shares in the subsidiary and to keep them “over the long term”, details a press release.
“Logistics is one of the investments we believe in the most and the sector has continued to prove its resilience and strong growth potential,” said James Seppala, Head of Real Estate Investments for Blackstone in Europe.
The investment company manages a total real estate portfolio worth $448 billion worldwide.
