It’s only Logicor: Private equity firm encouraged to float warehouse company in London
The private equity owner of a commercial landlord giant is being encouraged by banks to float the business in London.
Morning Wire understands Blackstone has yet to decide whether to make an initial public offering (IPO) on Logicor, the owner of 600 warehouses.
The flotation, which would be expected to value the company at more than €10bn (£7.7bn), would be a boost to London’s IPO market, which has experienced a slow start to the year.
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But, despite the company being headquartered in London, floats in Frankfurt or Amsterdam could also be considered. Blackstone could also instead decide to sell the company.
Blackstone declined to comment.
Logicor was founded by Blackstone’s real estate unit in 2012 to operate and manage its logistics assets in Europe.
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London's IPO market has experienced a slow start to the year, with the looming EU referendum blamed.
The total raised through IPOs fell to £1.6bn in the first quarter of 2016, down from £4bn in the last quarter of 2015, according to EY data.
The accountancy firm put the drop down to market volatility and the referendum. Another report, IPO Watch from PwC, said a "pause button" had been pushed on the IPO market, both globally and in the UK, with the referendum approaching.