Prologis has reportedly issued a €21 billion ($23 billion) nonbinding offer to acquire a portfolio of more than 1,700 warehouses held by Mileway, a 158-million-square-foot pan-European last-mile logistics company backed by Blackstone, according to multiple news outlets.
Over the past six years, Blackstone and Mileway’s management team have grown the company into the largest last-mile logistics portfolio in Europe. It comprises more than 1,700 high-quality last-mile logistics assets, amounting to 14.7 million square meters (158 million square feet) across 10 countries as of February 2022.
Of 20 or so prospective buyers approached by Morgan Stanley, the bank managing the process, eight looked seriously at Mileway, but only Prologis submitted a non-binding bid, the Financial Times reported.