Blackstone Inc. (NYSE:BX) enter into a bid to acquire Industrials REIT Limited (JSE:MLI) for approximately £500 million on April 3, 2023. Blackstone Inc. (NYSE:BX) agreed to acquire Industrials REIT Limited (JSE:MLI) on April 14, 2023. The enterprise value of the deal, including debt, comes in at around £700 million. The Acquisition is intended to be effected by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law. The Scheme remains conditional on the approval of the requisite majority of eligible Scheme Shareholders voting at the Court Meeting and the requisite majority of eligible Industrials Shareholders voting at the General Meeting. The Scheme is expected to become Effective in June 2023. Transaction is approved by court and effective date is as of June 21 2023. Max von Hurter and Tomas Ribeiro of Eastdil Secured, L.L.C. and Hugh Jonathan and Stuart Ord of Numis Securities Limited acted as financial advisors to Industrials REIT Limited. Alex Midgen and Sam Green of N M Rothschild & Sons Limited acted as financial advisor to Blackstone Inc. RBC Capital Markets, LLC acted as financial advisor to Blackstone Inc. Rothschild & Co US Inc. acted as financial advisor to Blackstone Inc. Ben Spiers, James Campisi, Jewel Zhu and Fran Towers (Corporate); Wheatly MacNamara, Tom Lloyd, Kimberley Chikitch, Claire Newman, Barbora Cechova and Samer Ashur (Real Estate); and Étienne Renaudeau, Josh Buckland, Sandeep Mahandru and Lina Kim (Antitrust) of Simpson Thacher has acted as Legal advisor to Blackstone Inc. BofA acted as a Financial Adviser to Blackstone in the transaction.


Blackstone Inc. (NYSE:BX) completed the acquisition of Industrials REIT Limited on June 21, 2023.