Blackstone’s €21 Billion Recapitalization of Mileway

Simpson Thacher, Bech-Bruun, Elvinger Hoss Prussen and Loyens & Loeff advised Blackstone in the transaction.

Blackstone announced its €21 billion recapitalization of Mileway. Blackstone has announced that existing investors in Mileway, its 14.7 million square meter pan-European last mile logistics company, have agreed to recapitalize the company for €21 billion alongside Blackstone’s Core+ strategy, and to hold the business for the long term. In connection with the recapitalization, existing Mileway investors were offered the option to exit for cash or reinvest their proceeds from the sale. The recapitalization remains subject to a “go-shop” process which will commence immediately.

Mileway is the largest last mile logistics portfolio in Europe with over 1,700 high-quality, last mile logistics assets, amounting to 14.7 million square meters across 10 countries.

The Simpson Thacher team includes Wheatly MacNamara (Picture), Ryan Harvey, Kimberley Chikitch, Sneha Padden, Seema Walji and Joe Donaghey (Real Estate); Peter Vassilev, Rony Rothken, Michael Wolitzer, Jonathan Karen, Shannon O’Sullivan, Carter Kagedan, Joshua Gottesman, Sean Stratmoen and Priscilla Hamilton (Private Funds); Tom Lloyd, Edd Hampson, Luke Murphy and Chun Baak (Financing); Nancy Mehlman, Sarah Lane, Jodi Schneider and Beatriz Gil (Tax); Étienne Renaudeau (Antitrust); and Ben Wells and Julien Adam (Retail Funds).

The Bech-Bruun team included Sven Frode Frølund and Steen Puch Holm-Larsen.

The Elvinger Hoss Prussen team included Joachim Cour, Partner, Victoria Notebaert, Associate and Julien Gigliarelli, Associate (Funds) as well as Katia Panichi, Partner, and Fiorenza Cingolani, Senior Associate (Fund Finance).

The Loyens & Loeff team included Pauline Leegwater, Freek Hilberdink, Ariane Brohez, Sophie Dellaert, Mane Bajadjan, Dulcia Spee, Erwin Bosma, Yacintha Akkoyun, Kim Wilshaus, Stijn  Werdmölder, Elze Roorda.

Involved fees earner: Sven Frode Frølund – Bech-Bruun; Steen Puch Holm-Larsen – Bech-Bruun; Fiorenza Cingolani – Elvinger Hoss Prussen; Joachim Cour – Elvinger Hoss Prussen; Julien Gigliarelli – Elvinger Hoss Prussen; Victoria Notebaert – Elvinger Hoss Prussen; Katia Panichi – Elvinger Hoss Prussen; Julien Adam – Simpson Thacher & Bartlett; Kimberley Chikitch – Simpson Thacher & Bartlett; Joseph Donaghey – Simpson Thacher & Bartlett; Beatriz Capeloa Gil – Simpson Thacher & Bartlett; Priscilla Hamilton – Simpson Thacher & Bartlett; Edward Hampson – Simpson Thacher & Bartlett; Ryan Harvey – Simpson Thacher & Bartlett; Jonathan Karen – Simpson Thacher & Bartlett; Sarah Lane – Simpson Thacher & Bartlett; Tom Lloyd – Simpson Thacher & Bartlett; Wheatly MacNamara – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Luke Murphy – Simpson Thacher & Bartlett; Sneha Padden – Simpson Thacher & Bartlett; Étienne Renaudeau – Simpson Thacher & Bartlett; Rony Rothken – Simpson Thacher & Bartlett; Jodi Schneider – Simpson Thacher & Bartlett; Sean Stratmoen – Simpson Thacher & Bartlett; Chun Sun Baak – Simpson Thacher & Bartlett; Peter Vassilev – Simpson Thacher & Bartlett; Seema Walji – Simpson Thacher & Bartlett; Benjamin Wells – Simpson Thacher & Bartlett; Michael Wolitzer – Simpson Thacher & Bartlett;

Law Firms: Bech-Bruun; Elvinger Hoss Prussen; Simpson Thacher & Bartlett;

Clients: Blackstone;

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Author: Youness Semri