Welcome to our dedicated page for Apollo Global Mgmt news (Ticker: APO), a resource for investors and traders seeking the latest updates and insights on Apollo Global Mgmt stock.
Apollo Global Management, Inc. reports news tied to its alternative asset management and retirement services businesses. Updates commonly cover operating results, dividends on common and preferred stock, assets under management, investment origination, and activity at Athene, its retirement-services subsidiary.
Company news also includes fund formation and capital raising across Apollo strategies, including hybrid value, structured equity, dislocated liquid credit, private equity, credit, and real assets. Announcements may describe investment activity across funds managed by Apollo, portfolio-company developments, governance, material agreements, and capital-structure matters.
Cascades Inc. announced its agreement to sell its 57.6% stake in Reno De Medici for €1.45 per share, totaling approximately €315.3 million (~CAN$461 million). This price represents a 24% premium over RDM's 90-day share average. The transaction aims to enhance Cascades' core North American operations, supporting strategic modernization and shareholder returns. Set for Q3 2021 completion, the sale concludes Cascades' 35-year presence in Europe, with Apollo Global Management acquiring RDM to drive future growth. Rothschild & Co acted as financial advisor for Cascades.
Apollo Global Management (NYSE: APO) has announced the acquisition of a majority stake in Reno De Medici S.p.A. (RDM), a leader in recycled cartonboard production, for EUR 1.45 per share, marking a 24% premium over its 90-day average. The acquisition involves approximately 67% of RDM's equity, with a mandatory tender offer planned to de-list the company. RDM, which focuses on sustainable practices, operates nine mills across Europe and the US. The transaction is expected to close by Q3 2021 and is part of Apollo's Impact strategy to promote sustainability while driving financial performance.
Apollo Global Management has formed a strategic partnership with Motive Partners, acquiring a 24.9% minority stake in Motive’s management company. This collaboration aims to drive innovation and growth in financial technology, enhancing investment opportunities while working alongside Motive's expertise. The partnership positions Apollo to leverage a nearly $10 trillion market opportunity in financial technology over the coming decade. There will be no changes to the management or operations of Motive or its managed vehicles, including Motive Capital Corp (NYSE: MOTV).
Intrado Corporation announced its HouseCalls Pro platform received an 88.3/100 score in a KLAS report, ranking it among the top patient engagement solutions. Notably, 100% of customers would repurchase the solution, highlighting its effectiveness in reducing no-shows and improving patient communication. The score reflects a significant 13-point increase from the previous year, indicating strong product improvements. KLAS also noted that providers are optimistic about Intrado’s strategic direction in healthcare.
Intrado Corporation and Encore have announced a strategic partnership aimed at enhancing event experiences for both virtual and in-person audiences. This collaboration will combine Intrado's technology platform with Encore's event production capabilities, allowing clients to manage hybrid events more efficiently. With over 1.8 million events produced annually, the partnership aims to deliver consistent and engaging experiences worldwide. The initiative reflects the significant shift towards virtual events in the industry.
AWH Partners and Apollo Global Management (NYSE: APO) acquired the DoubleTree by Hilton Hotel in Anaheim, CA. The deal, finalized after nearly 12 months, included assuming existing debt. The 461-key property, located near major attractions, aims to attract business and leisure travelers. Management has transitioned to Spire Hospitality, which plans a comprehensive renovation to enhance the hotel’s appeal in a competitive market. Strategic positioning near the Anaheim Convention Center promises strong future performance.
ABC Technologies has finalized the sale of a majority stake to the Apollo Funds, an affiliate of Apollo Global Management, for CAD$10.00 per share, totaling approximately 27.7 million shares, representing 51% of the company. The transaction leads to new board reconstitutions, with Apollo nominating five out of nine members. CEO Todd Sheppelman highlights the transaction as a significant milestone for growth within the automotive technical plastics sector, while Apollo expresses enthusiasm about future collaborations. Public shareholders retain about 20.9% of shares post-transaction.
Intrado Corporation has initiated an Asset Sale Offer to purchase up to $100 million of its 8.50% Senior Notes due 2025 at 100% of the principal amount, plus accrued interest. The offer is set to expire on July 21, 2021. If the total amount of Notes tendered exceeds the offer amount, purchases will be made on a pro rata basis. The company emphasizes that the press release is not a redemption notice or an offer to sell securities, and it only applies to validly tendered Notes.
Intrado Corporation has completed the sale of its Health Advocate business to Teleperformance for approximately $690 million. The net proceeds are around $591 million after taxes, fees, and expenses. Intrado plans to use approximately $350 million to pay down its term loans and $100 million for repurchasing its Senior Notes due 2025. The remainder of the proceeds will be reinvested in the company, allowing focus on cloud-based technology and next-generation solutions.
Intrado Corporation will host a free live virtual event, 911 Live | The Frontline, on June 29, 2021, aimed at the public safety community. The event features panel discussions on emerging technologies affecting emergency communications, including topics like Smart Cities, cloud-based systems, and non-voice emergency services. Attendees will engage with experts through interactive sessions and Q&A. Jeff Robertson, President of Intrado Life & Safety, emphasizes the importance of advancing public safety technologies.