Apollo Global Mgmt Inc Stock Price, News & Analysis

Redbox has announced a merger with Seaport Global Acquisition Corp., marking its entry into public trading with an enterprise value of $693 million. Post-transaction, Redbox will list under the ticker RDBX. Shareholders, including Apollo Global Management, will retain 59% of equity. The merger aims to enhance Redbox's digital transformation and debt reduction, potentially increasing revenue through various entertainment models. The deal has received board approval and is set to close in Q3 2021, relying on $145 million from Seaport's trust account and a $50 million PIPE led by Ophir Asset Management.

Grupo Comercial Chedraui's subsidiary, Bodega Latina Corporation, has agreed to acquire Smart & Final Holdings from Apollo Global Management for approximately $620 million, including debt assumption. Smart & Final, operating over 250 stores across California, Arizona, and Nevada, generated $4.1 billion in revenue and $167 million in adjusted EBITDA for FY2020. The acquisition aims to expand Chedraui's U.S. footprint, enhance customer demographics, and achieve significant revenue growth, with a pro forma sales projection exceeding $11 billion. The deal is anticipated to be accretive to earnings in its first year.

On May 10, 2021, IGT completed the sale of its Italian B2C gaming machine, sports betting, and digital gaming businesses, represented by Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l., to Gamenet Group S.p.A. for €950 million. The transaction includes an initial payment of €725 million, with additional payments scheduled for December 31, 2021, and September 30, 2022. IGT plans to utilize the funds to cover transaction expenses and reduce debt, enhancing its financial position.

Apollo Global Management (NYSE: APO) announced robust Q1 results with record GAAP earnings of $2.81 per share and fee-related earnings of $0.65, reflecting a 26% year-over-year increase. The private equity portfolio appreciated 22% in the quarter. Key milestones included the strategic merger announcement with Athene and advancements in their High Grade Alpha platform. Apollo declared a cash dividend of $0.50 per share, expected to be paid on May 28, 2021, with future quarterly dividends aimed to distribute substantial earnings to shareholders, post-merger.

Apollo Global Management has committed $600 million to support Standard Industries Holdings in acquiring W.R. Grace & Co. for approximately $7 billion. This investment comes from Apollo's Hybrid Value business, known for its expertise in the chemicals sector. The acquisition is expected to enhance Grace's growth potential within Standard's portfolio. The transaction is pending shareholder and regulatory approvals.

25madison has successfully closed its latest funding round, raising $60 million to date. Investors include Apollo Global Management (NYSE: APO) and Endeavor, strengthening its strategy to build early-stage companies. 25madison has achieved early successes with notable projects such as the disaster preparedness app harbor and the plant-based living platform The Beet. Apollo aims to leverage this partnership to create new revenue streams by investing in and co-incubating startups, enhancing market acceptance and reducing execution risk.

Apollo Global Management (NYSE: APO) has announced a conference call on May 4, 2021, at 8:30 a.m. EST to discuss its financial results for Q1 2021. The release of these results will occur earlier on the same day at 7 a.m. EST. Interested parties can join the call by dialing (833) 614-1406 for U.S. callers or +1 (914) 987-7127 for international callers, using conference ID 5576528. A webcast will also be available on Apollo's website. As of December 31, 2020, Apollo managed approximately $455 billion in assets across various funds.

Apollo Global Management announced the launch of Apollo Credit Secondaries, a new platform focusing on private credit secondary transactions with $1 billion in assets. This initiative is supported by investments from Apollo's insurance clients and aims to establish a leadership position in the expanding market. The firm plans to leverage its extensive $330 billion Credit business to enhance sourcing and underwriting capabilities. Apollo is committed to providing attractive risk-adjusted returns while addressing liquidity needs for investors.

Intrado Corporation has launched SD-WAN Thin Edge, a technology designed to connect remote workers, IoT devices, and fixed/mobile sites over LTE networks. This solution allows data processing at the edge, reducing costs and bandwidth by avoiding the need to send large amounts of data to the cloud. Featuring zero trust security, connectivity, and edge computing within a single device, this platform addresses the needs of a hybrid workplace. As organizations evolve, SD-WAN Thin Edge aims to enhance Intrado's UCaaS portfolio while providing robust support and deployment services.