Tikehau Capital (ENXTPA:TKO) and IREIT Global (SGX:UD1U) entered into a conditional share sale and purchase agreement to acquire Gloin Investments, S.L.U. from Corona Patrimonial SOCIMI, S.A. (BME:YCOR) for €68.5 million on December 7, 2019. Gloin Investments, S.L.U. holds the Delta Nova IV and Delta Nova VI buildings. The transaction consideration will be paid on a debt-free and cash-free basis. Upon completion of the transaction, Tikehau Capital will hold 60% stake in Delta Nova IV and Delta Nova VI buildings while IREIT Global will hold 40%. Under the terms of the joint venture, Tikehau Capital will grant IREIT a call option to acquire its 60% stake. In a related transaction, IREIT Global and Tikehau Capital also signed purchase agreements to acquire Il·lumina building and Sant Cugat Green and the total consideration for all four properties amounts to approximately €130 million. The transaction was financed through a loan with an aggregate amount of €32 million bridging loan from City Strategic Equity Pte. Ltd. The transaction will also be financed with proceeds from debt financing, internal cash, and/or equity fund raising. In the case that the transaction failed to occur as a result of a breach by Tikehau and IREIT, Corona shall be entitled to retain the full amount of the Initial Payment amounting to €13.4 million, while in the case that transaction failed to occur as a result of a breach by Corona, then Corona shall reimburse the Initial Payment and compensate Tikehau and IREIT for all reasonable costs and expenses incurred from the third party advisers engaged by IREIT Global and Tikehau Capital to conduct the due diligence exercise for the purposes of the transaction. The transaction is subject to the approval of the shareholders of Corona and the the discharge and cancellation of the senior facility agreement granted by Euro Dinero S.à r.l. to the Target Entities. The transaction is expected to complete by the end of December 2019.

Tikehau Capital (ENXTPA:TKO) and IREIT Global (SGX:UD1U) completed the acquisition of Gloin Investments, S.L.U. from Corona Patrimonial SOCIMI, S.A. (BME:YCOR) on December 20, 2019.