Blackstone creates a last-mile logistics subsidiary valued at 8,000M euros

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company has a portfolio of one thousand logistic assets. In total, it covers an area of ​​nine million square meters valued at 8,000 million euros.

Blackstone bets on logistics 

US fund manager, Blackstone, has created a company dedicated to last-mile ships in Europe. The new company is called Mileway and owns a thousand logistics assets that have been acquired by vehicles managed by Blackstone in recent years.

The new company's portfolio has a total area of ​​nine million square meters valued at 8,000 million euros. The portfolio is located in the urban centers of the main European markets: the United Kingdom, Germany, France, Spain, the Netherlands, and the Nordic countries.

The company will continue to expand its portfolio with the intention of consolidating in the countries where it already operates and opening new markets. The creation of the company specialized in logistics last-mile opens the way to Blackstone to part with this portfolio in the future or take it to the stock market. The US giant sold its Logicor logistics warehouse company to China Investment two years ago for more than 12,000 million euros, although it finally repurchased a small stake and took over the operation.

Emmanuel Van der Stichele, former Director of Goodman's European Logistics Fund, is the company's CEO. "The growth of e-commerce and urbanization are intensifying the requirement for faster logistics solutions," says the company's Director. "Mileway is the number one gateway to urban markets and we are uniquely positioned to help companies shorten delivery times, increase their customer base and scale geographically," he adds.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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