DLA Piper, Skadden Arps, Kirkland advised on $14bn acquisition of STORE Capital by GIC and Oak Street
DLA Piper, Skadden Arps, Kirkland advised on $14bn acquisition of STORE Capital by GIC and Oak Street
DLA Piper, Skadden Arps Slate Meagher & Flom, Kirkland & Ellis and Fried Frank Harris Shriver & Jacobson advised on GIC and Oak Street's $14bn acquisition of STORE Capital, a real estate investment trust (REIT) that invests in single tenant properties.
DLA Piper provided legal counsel to STORE Capital, Skadden advised Singapore's sovereign wealth fund GIC, Kirkland advised private equity real estate investor Oak Street and Fried Frank provided counsel to Goldman Sachs, STORE Capital's financial advisor.
STORE Capital shareholders will receive $32.25 per share in cash, a 20.4% premium on the REIT's closing price on Wednesday. The merger is expected to close in the first quarter of next year. The merger agreement also allows STORE Capital to shop around for a better deal until October 15.
Kirkland's team was jointly led by corporate partner Michael Brueck and real estate partners David Rosenberg and Andrew Van Noord. Meantime Fried Frank's team was led by corporate partners Philip Richter and Roy Tannenbaum.
The Skadden effort was led by real estate partner Nancy Olson and M&A partner Blair Thetford, corporate counsel Peter Jones, real estate counsel Matea Bozja, banking partner David Wagener and tax partners David Polster and Nickolas Gianou. DLA Piper did not immediately disclose details.
