A consortium led by Blackstone Group has invested $600 million in the to-be-listed Dili Group Holdings Co, which is planning to build a nationwide logistics network for agricultural products, the Economic Information Daily reported Wednesday.
The logistics network will be built based on wholesale markets like Shouguang Agricultural Product Logistics Park in Shandong province, the report said.
Luan Yuanwei, general manger and executive director of the park, said the total investment from the consortium amounted to $600 million, with $190 million from Blackstone.
Renhe Commercial Holdings Co held the controlling stake in Dili, the local government held 16 percent, and the consortium led by Blackstone held about 30 percent of the total shares, he added.
Luan said the company's Hong Kong listing had begun its process but the specific timetable was not yet available. The total investment for the park amounted to 2 billion yuan ($292.92 million), without a single cent in bank loans, he added.
