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CIC to buy Blackstone’s €12b Logicor

by Andrea Waitrovich

China Investment Corp. has plans to buy Blackstone’s European logistics business, Logicor, for more than €12 billion ($13.5 billion), according to media outlets. An official announcement has not been released.

Reports are stating CIC is the frontrunner, beating out Logicor, Mapletree Investments, Temasek Holdings and Global Logistic Properties.

The Financial Times reports the firms are in late-stage negotiations.

If completed, it would rank as the second-largest European real estate transaction on record and the fourth-largest international Chinese takeover to date, according to The Financial Times.

Other billion-dollar logistics deals during the past few years include:

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