Blackstone to sell IndCor Properties to Singapore's GIC for $8.1 bln

martes 2 de diciembre de 2014 00:03 GYT

Dec 1 (Reuters) - Blackstone Group LP said it would sell its U.S. industrial platform IndCor Properties to affiliates of Singapore sovereign wealth fund GIC Pte Ltd for $8.1 billion.

As a result of the deal, IndCor will no longer be pursuing an initial public offering, Blackstone said in a statement.

IndCor was formed in 2010 as a portfolio company of Blackstone and has a footprint of warehouses and distribution centers across the United States, according to the company website. (Reporting by Neha Dimri in Bengaluru; Editing by Gopakumar Warrier)