Blackstone is leading a $24bn recapitalisation of Mileway, the biggest operator of urban warehouses in Europe, as the private equity giant increases its bet on demand for rapid goods delivery.
Rather than list or seek a private sale, the U.S. investor is opting to recapitalise the logistics company, Europe’s largest owner of last-mile logistics, as consumers worldwide increasingly demand same-day delivery of food and other items.
Blackstone launched Mileway in 2019 to operate the more than 1,000 logistics assets the private equity firm has bought to build up its last-mile business to deliver goods to tenants in its properties.
Read more: Reuters
