The Blackstone Group has agreed to exit India-based Gateway Rail Freight to its parent company Gateway Distriparks for INR8.1 billion (approximately US$118 million), bringing Gateway Distriparks’ stake in the company to 99.8 percent. Blackstone originally invested INR3 billion (approximately US$65 million) in Gateway Rail Freight in November 2009. The deal, which is expected to be completed within 90 days, is subject to statutory and regulatory approvals.