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Blackstone appoints more banks to prepare IPO for warehouse giant Logicor
March 10, 2017 / 12:54 PM / 9 months ago

Blackstone appoints more banks to prepare IPO for warehouse giant Logicor

LONDON (Reuters) - Private equity firm Blackstone (BX.N) has appointed more banks to help prepare for an initial public offering (IPO) of shares in its European warehouse owner Logicor, that could be valued at 13 billion euros ($14 billion), according to two sources familiar with the matter.

The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

Wall Street banks Morgan Stanley (MS.N), Goldman Sachs (GS.N), Bank of America Merrill Lynch (BAC.N) have been selected by Blackstone to work on the potential listing in London alongside Citi (C.N), although no final decision to proceed has been taken, according to one of the sources.

Boutique investment bank PJT Partners is acting as Logicor’s IPO adviser and has helped the London-based firm selecting the banks underwriting the deal, another source familiar with the matter said.

Blackstone declined to comment.

    Logicor was founded by Blackstone’s real estate division in 2012 to manage and operate its European logistics assets. Counting Amazon (AMZN.O) among its clients, it has become the largest owner of European logistics and distribution properties, covering a total of 13.6 million square meters across Europe.

    Reuters reported in December that Blackstone was hiring banks to prepare for an IPO of Logicor, several people with knowledge of the situation said at the time.

    Goldman Sachs and Eastdil Securities had already been chosen to help with the listing but the global coordinators had not yet been appointed, one of the sources involved in the process said.

    Sky News first reported the appointments.

    Additional reporting by Greg Roumeliotis in New York; Writing by Anjuli Davies; Editing by Rachel Armstrong, Ruth Pitchford

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