Blackstone has agreed to sell approximately £1bn ($1.3bn) of UK logistics assets to Tritax Big Box, receiving a combination of cash and a 9% equity stake in the company as part of the firm’s broader push into European real estate, according to a report by Reuters.
The deal will see Tritax pay £632m in cash for 41 logistics properties, while Blackstone will remain a major shareholder. Shares in Tritax rose around 3% following the announcement.
Separately, Blackstone is considering a cash offer for Big Yellow Group, a UK-listed self-storage firm with a market capitalisation of £1.9bn. News of the potential bid sent Big Yellow’s shares up by as much as 22%. The company confirmed it had engaged with a small number of parties to explore options, including a potential sale, but no formal approach had been received.
