Private equity firm Blackstone (BX.N) has appointed more banks to help prepare for an initial public offering (IPO) of shares in its giant European warehouse owner Logicor, that could be valued at 13 billion euros ($13.8 billion), according to two sources familiar with the matter.
Wall Street banks Morgan Stanley (MS.N), Citi (C.N) and Bank of America Merrill Lynch (BAC.N) have been selected by Blackstone to work on the potential listing in London alongside Goldman Sachs (GS.N), although no final decision to proceed has been taken, according to one of the sources.
Blackstone declined to comment.
Logicor was founded by Blackstone’s real estate division in 2012 to manage and operate its European logistics assets. Counting Amazon (AMZN.O) among its clients, it has become the largest owner of European logistics and distribution properties, covering a total of 13.6 million square meters across Europe.
Reuters reported in December that Blackstone was hiring banks to prepare for an IPO of Logicor, several people with knowledge of the situation said at the time.
Goldman Sachs and Eastdil Securities had already been chosen to help with the listing but the global coordinators had not yet been appointed, one of the sources involved in the process said.
Sky News first reported the appointments.