Deals
GIC, Blue Owl Agree to Buy Store Capital for $14 Billion
- Landlord leases to service businesses, manufacturers, others
- Buffett’s Berkshire took $377 million stake in Store in 2017
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Singaporean sovereign wealth fund GIC Pte. and Blue Owl Capital Inc.’s Oak Street agreed to acquire Store Capital Corp., a real estate investment trust that counts Warren Buffett’s Berkshire Hathaway Inc. as an investor, in an all-cash deal valued at about $14 billion.
Under the terms of the deal, Store shareholders will receive $32.25 per share in cash, a roughly 20% premium to the company’s closing price on September 14, according to a statement Thursday. The agreement includes a 30-day period in which Store can seek better offers, and is expected to close in the first quarter.