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Blackstone buys Embassy Industrial Parks

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Blackstone buys Embassy Industrial Parks
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11 May 2021 1:34 AM IST

New Delhi Global investment firm Blackstone on Monday announced the acquisition of Embassy Industrial Parks, a joint venture firm of Warburg Pincus and realty firm Embassy group.

Embassy Group and Blackstone did not disclose the deal value. 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 per cent stake while the Embassy group has a 30 per cent shareholding in the joint venture firm-Embassy Industrial Parks.

Sources had last month indicated that the Embassy group was in the advance stage of talks with Blackstone to sell its warehousing and industrial parks business.

Blackstone Embassy Industrial Parks 
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