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Blackstone infuses additional capital in Allcargo

Allcargo is a leading Indian private sector logistics operator and a niche global logistics player. Blackstone will invest an additional $23Mn, in Allcargo taking the total commitment to $75 Mn. As part of this transaction, Blackstone will continue to have representation on the Board of Allcargo. Commenting on the deal Mr. Shashi Kiran Shetty, Chairman and Managing Director of Allcargo, said, “Blackstone has added tremendous value to the company since we started our relationship 17 months ago and we are exited about this fresh investment by The Blackstone Group into the company. We believe that at this stage of our growth we have an opportunity to create significant value by leveraging Blackstone’s outstanding experience and track record.” [...]