Private equity firm Apollo Global Management said on Monday it had agreed to buy Athene Holding in an all-stock deal valuing the retirement services company at about $11 billion.
Under the terms of the deal, each outstanding class A common share of Athene will be exchanged for 1.149 shares of Apollo common stock.
Existing Apollo shareholders will own about 76% of the combined company, and Athene investors will own the rest.
The deal will create a company with a pro-forma market value of $29 billion, providing products and services in the investment and retirement income space.
Source: Reuters
Can’t stop reading? Read more
LGT Capital Partners takes minority stake in CVC-backed Teneo at $2.3bn valuation
LGT Capital Partners takes minority stake in CVC-backed Teneo at $2.3bn valuation LGT Capital...
BlueFive Capital lands sovereign backing from Bahrain’s Mumtalakat
BlueFive Capital lands sovereign backing from Bahrain’s Mumtalakat Bahrain’s sovereign wealth...
Green Arrow Capital to acquire De Agostini’s alternatives arm in portfolio reshuffle
Green Arrow Capital to acquire De Agostini’s alternatives arm in portfolio reshuffle Green Arrow...