Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.


Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.


Morgan Stanley enters Indian warehousing space with $55 million investment


The investment is likely to be done from the Morgan Stanley Real Estate Fund (MSREF)

Morgan Stanley is set to enter the Indian warehousing space via a $55mn investment, via which it will take an 85-90% stake in a platform to be jointly operated with KSH Group, told sources close to the deal. The investment is likely to be done from the Morgan Stanley Real Estate Fund (MSREF). The deal is in a fairly advanced stage of completion and is likely to be closed this week. Rohit Hegde, managing director at KSH Distriparks which is the parent of KSH Logistics, will likely own the remaining 10-15% in the asset.

Sources indicated that there exists an arrangement through which both parties will operate together and likely pursue more deals in the coming times. Morgan Stanley is believed to be scouting for more investments in the warehousing sector and is eyeing two more assets in Mumbai and Bengalurur for which they may shell out close to $50mn.

 “They are going big on the space. You can expect Morgan Stanley to shore up many more assets in this segment in the coming times,” said a source aware of the deal. Email queries sent to Morgan Stanley and KSH Group remained unanswered till the time of going to press.

The KSH Group of companies, headquartered in Pune include KSH Distriparks, KSH Logistics, KSH Infra and KSH International. Avendus Capital is believed to be the advisor on the deal.

The Indian logistics segment is picking up steam in recent times with many foreign players showing interest.

Late last year, Warburg Pincus-backed ESR Group, which is an Asian logistics real estate developer, along with Germany’s Allianz, set up a $1bn investment platform targeting the logistics space in the country. Similarly, in September 2018, GLP established a strategic joint venture with IndoSpace, marking its entry into India.

Leave a Comment