Acquirer: GIC Private Limited (Singapore); Blue Owl Capital (U.S.)
Acquired: STORE Capital Corporation (U.S.)
Value: $14 billion
Industry Tags: Real Estate
On September 15, 2022, STORE Capital Corporation (NYSE: STOR), “an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, and GIC, a global institutional investor in partnership with Oak Street, a Division of Blue Owl [NYSE: OWL], one of the largest net lease investors,  announced that they have entered into a definitive agreement under which GIC and funds managed by Oak Street will acquire STORE Capital in an all-cash transaction valued at approximately $14 billion.” (Press Release, STORE Capital Corporation Form 8-K, Ex-99.1, Sept. 15, 2022, SEC Filing.) Obtaining CFIUS Approval is a condition to the transaction. (See Sectoin 6.2(f), Agreement and Plan of Merger, STORE Capital Corporation Form 8-K, Ex-2.1, Sept. 15, 2022, SEC Filing.) On December 6, 2022, “STORE Capital Corporation . . . announced that the Committee on Foreign Investment in the United States (CFIUS) has approved the previously announced all-cash acquisition of the Company by affiliates of GIC, a global institutional investor, and funds managed by Oak Street, a Division of Blue Owl.” (STORE Capital Corporation Schedule 14A, Dec. 6, 2022, SEC Filing.)”
Please contact Peter Alfano with any questions.