Blackstone in talks about £1bn Tritax Big Box deal

One of the world's largest existent property investors is successful precocious talks with a London-listed radical astir a £1bn logistics woody - weeks aft the duo were embroiled successful a nationalist bidding warfare for different concern spot group.

Sky News has learnt that Blackstone, the American backstage equity behemoth, is nearing an statement to merchantability astir £1bn of logistics assets to Tritax Big Box Reit, which has a marketplace capitalisation of astir £3.65bn.

Property manufacture sources said this play that portion cardinal details were yet to beryllium finalised, a woody could spot Blackstone receiving portion of the information for the assets successful the signifier of equity successful Tritax Big Box.

Depending connected the information of the woody paid for successful stock, Blackstone could look arsenic 1 of Tritax Big Box's largest shareholders.

An announcement astir an statement betwixt the 2 companies could travel wrong days, the radical said.

A transaction would travel little than 2 months aft Tritax Big Box bowed retired of the bidding for Warehouse Reit aft Blackstone tabled an connection worthy adjacent to £500m for the company.

Talks betwixt Blackstone and Tritax Big Box astir an plus portfolio woody are said to person been initiated soon aft the solution of the Warehouse Reit battle.

Tritax Big Box is among the companies which person emerged to instrumentality vantage of soaring request for concern warehouse and logistics assets.

Its sites see a 2.3 cardinal quadrate ft installation connected onshore antecedently occupied by the Littlebrook powerfulness presumption successful Kent, with overmuch of that abstraction present pre-let to Amazon and Ikea.

Blackstone, which precocious committed to investing £100bn successful the UK successful the coming years, and Tritax Big Box some declined to remark connected Sunday.