Blackstone rejects Gateway offer for India freight business
The Blackstone Group has rejected an offer from Indian logistics player Gateway Distriparks (GDL) to buy its stake in freight subsidiary Gateway Rail Freight (GRFL) for INR6 billion ($90.3 milion).
According to a GDL filing, Blackstone plans to convert its compulsorily convertible preference shares into equity. At the start of the year, the private equity firm petitioned GDL to pursue an IPO for...
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