While the market’s attention was locked on ASX-listed Abacus Storage King’s $1.93 billion takeover offer, BlackRock – the world’s largest asset manager – was quietly cutting a deal elsewhere in the booming sector.
Street Talk understands BlackRock is poised to acquire StoreLocal, a privately owned player that’s built a $400 million-plus portfolio across Australia. It was placed on the auction block in January, with boutique firm Highbury hired to find a capital partner to help bankroll its growth strategy.