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Store Capital soars as Warren Buffett's Berkshire Hathaway takes chunky stake

Berkshire Hathaway paid US$20.25 a share for its stake; Store Capital's shares closed at US$20.77 on Friday

Shares in real estate investment trust Store Capital Corp (NYSE:STOR) soared in pre-market trade after it emerged Warren Buffett had acquired a stake.

The legendary investor splashed out US$377mln for 18.6mln shares in Store Capital, equivalent to a 9.8% stake in the company, through his Berkshire Hathaway Inc (NYSE:BRK.B) investment vehicle.

Berkshire Hathaway paid US$20.25 a share, prompting market makers to whack the share price of Store up 10.7% in pre-market trading to US$23.