Chinese state takes over Logicor assets in Romania

China’s sovereign fund China Investment Corporation (CIC) has taken over the Logicor assets in Romania, namely four logistics parks and over 100 hectares, after the European Commission approved the fund’s takeover of the Logicor assets in an international transaction. Logicor owns four logistics parks in Romania, in Ploiesti, Timisoara, Mogosoaia and Pantelimon. The company bought a portfolio of storage facilities from Immofinanz last year, including four projects in Romania. In May, Blackstone, the largest alternative investment fund, announced the sale of Logicor to China's sovereign fund. The deal is estimated at EUR 12.25 billion. Blackstone, which set up Logicor in 2012, is making its way out of the European market. editor@romania-insider.com