GIC, Oak Street complete $15b acquisition of STORE Capital

GIC, a global institutional investor, in partnership with Oak Street, a division of Blue Owl and one of the largest investors in net lease real estate, has completed the previously announced acquisition of all outstanding shares of common stock in STORE Capital Corp. for $32.25 per share. The all-cash transaction is valued at about $15 billion, including assumed debt.

“We are excited to have successfully closed this transaction and joined forces with GIC and Oak Street, giving STORE access to efficient long-term capital to continue to provide our unique real estate financing solutions to the large market we serve,” said Mary Fedewa, president and CEO of STORE Capital. “We are very grateful for our equity and debt investors who have supported us since our inception. I would also like to thank all our employees for their commitment in making STORE the great company it is today. Collectively, we remain dedicated to continuing to support our customers.”

Lee Kok Sun