IREIT Global’s manager accepts non-binding offer for 80% stake

SINGAPORE (May 26): IREIT Global’s manager has accepted a non-binding offer from Tikehau Capital, a pan-European asset management firm and investment group, to acquire 80% of the manager.

The offer from Tikehau Capital is non-binding, and is subject to certain conditions, including the receipt of regulatory approvals and due diligence to be conducted by Tikehau Capital, according to the announcement. Tikehau Capital has some 7.55 billion euros in assets under management of which 794 million euros are in real estate.

“Tikehau’s extensive pan-European network combined with strong local operational expertise and existing pipeline of real estate transactions in Europe is expected to contribute significantly to IREIT’s growth. The proposed acquisition would also enable Tikehau Capital to further consolidate its position in Asia from Singapore and to expand its pan European real-estate footprint,” says Tikehau Capital’s spokesman in a statement.

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