Blackstone announces €21b recapitalization of Mileway

Blackstone announced that existing investors in Mileway, its 14.7-million-square-meter pan-European last-mile logistics company, have agreed to recapitalize the company for €21 billion ($24 billion) alongside Blackstone’s Core+ strategy and to hold the business for the long term. The recapitalization remains subject to a “go-shop” process that will commence immediately.

Over the past six years, Blackstone and Mileway’s management team have grown the company into the largest last-mile logistics portfolio in Europe. Today it comprises more than 1,700 high-quality, last-mile logistics assets, amounting to 14.7 million square meters (158.2 million square feet) across 10 countries.

In connection with the recapitalization, existing Mileway investors have been offered the opportunity to retain or increase their shareholding or to exit for cash. The large majority of capital for the recapitalization is coming from existing investors, demonstrating their strong convic