Tikehau Capital completed its acquisition of French real estate asset manager Sofidy SA following the approval of the French Financial Markets Authority.

Under the terms of the deal, Tikehau issued 244,712 shares as consideration for contributions in kind of 1,095 Sofidy shares, which represents 3.10% of Sofidy's share capital. The contribution was made concomitantly with the cash sale of 95.52% of Sofidy's share capital, allowing Tikehau to acquire 98.62% of Sofidy's share capital in all, according to a release.

In announcing the deal, Tikehau said the acquisition of Sofidy, which has €4.8 billion of real estate assets under management, would allow it to increase its own assets under management to more than €20 billion by the end of 2018, beating its goal of reaching that level in 2020.