On Aug 7, IREIT Global’s manager announced it plans to exercise the call option to acquire the 60% of four Spanish properties it does not own from Tikehau Capital, for around €47.8 million. The transaction is subject to unitholders approval where Tikehau Capital cannot vote. Although City Developments is a major unitholder and also owns a 50% stake in the REIT manager, it can vote because the portfolio was jointly acquired by IREIT and Tikehau Capital. 

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