Blackstone also intends to purchase additional shares ofAllcargo from the open market from time to time, but intends tomaintain its ownership below 15%. Allcargo will raise the $60million through a fresh issue of equity shares, fully andcompulsorily convertible debentures and optionally convertiblewarrants. Allcargo is a leading Indian private sector logisticsoperator and a niche global logistics player.

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A Blackstone representative tells GlobeSt.com that the companyhas nothing further to add at this moment, and couldn't furtherdetail anything regarding Blackstone's plans. Akhil Gupta, chairmanand managing director of Blackstone Advisors India Private Ltd.says in a prepared statement that "we are confident that the Indianlogistics sector will experience significant growth in the comingyears. India is seeing buoyant economic growth, improvements ininfrastructure, and a rationalization of the country's taxstructures, and Allcargo is an ideal platform for Blackstone to bein this highly attractive sector."

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Shashi Kiran Shetty, chairman and managing director of Allcargosays in a prepared statement that the company is "excited about theinvestment by the Blackstone Group and value their association asour long term partner. With their global reach and proactiveapproach, they bring immense value to the company. This investmentwill allow us to execute our organic and inorganic growth plans andcontinue to strengthen our leadership position in the logisticsspace."

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Shetty continues that the company had considered severalfinancing options, "but we decided to partner with Blackstonebecause we believe that at this stage of our growth we have anopportunity to create significant value by leveraging Blackstone'soutstanding experience and track record."

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.