IGG shareholders accept Tikehau Capital offer

SINGAPORE -Shareholders of IREIT Global Group Pte Ltd (IGG) have accepted a non-binding offer for an 80 per cent stake from pan European asset management firm Tikehau Capital.

The offer is subject to conditions, including regulatory approval and due diligence to be conducted by Tikehau, the company said in a release on Wednesday.

"No definitive agreements have been entered into at this stage, and there is no assurance that such definitive agreements will be entered into," the release added.

Shareholders of IGG have granted Tikehau exclusivity in relation to the sale of shares for a period of five months.

IGG is the manager of IREIT Global, a real estate investment trust listed on the SGX in August 2014, and holds several German office assets. It purchased a Berlin office building last year, bringing the number of properties it owns in Germany to five.

NOTE: An earlier version of this story said IREIT Group had accepted a non-binding offer for an 80 per cent stake from Tikehau Capital. We are sorry for the error.