(MENAFN) Blackstone Group LP announced that it would sell its US industrial platform IndCor Properties to affiliates of Singapore sovereign wealth fund GIC Pte Ltd for USD8.1 billion, Gulf News reported.
IndCor, will no longer follow and initial public offering filed in September, the company said in a statement.
GIC was leading a consortium to buy InCor from Blackstone in a deal valued at about USD8 billion including debt.
IndCor has left an impact of warehouse and distribution centers across the United States, as a portfolio company of Blackstone formed in 2010, local media reported.
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