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Blackstone has acquired Embassy Industrial Parks from Warburg Pincus and realty firm Embassy group in a big-ticket deal estimated to be worth Rs 5,250 crore. But Blackstone and Embassy group did not disclose the value of the deal.
In 2015, the Bengaluru-based Embassy group had formed a joint venture with private equity firm Warburg Pincus to build industrial parks.
Warburg Pincus had a 70% stake while the Embassy group has a 30% shareholding in the joint venture firm - Embassy Industrial Parks.
NYSE-listed Blackstone said funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group.
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