Fund Affiliated with Apollo Global Management Announces Agreement to Acquire Spanish Auto and Consumer Loan Unit of Bankia

  Fund Affiliated with Apollo Global Management Announces Agreement to Acquire
  Spanish Auto and Consumer Loan Unit of Bankia

  Acquisition Extends Apollo’s European Consumer Credit Receivables Platform

Business Wire

NEW YORK -- March 22, 2013

Apollo European Principal Finance Fund II (“Apollo EPF II”), a fund affiliated
with Apollo Global Management, LLC (NYSE: APO) (collectively with its
subsidiaries “Apollo”), today announced a definitive agreement to acquire
FinanMadrid, the auto and consumer loan unit of Bankia, which includes more
than 188,000 customer accounts in Spain with a balance of more than €873
million of receivables (the “Portfolio”). The accounts will continue to be
managed by the approximately 125 person operating platform based in Madrid,
Spain, which is also being acquired by Apollo EPF II. The transaction, the
terms of which were not disclosed, is subject to regulatory approval and other
customary closing conditions. The transaction is expected to close within four

This transaction follows the acquisitions by Apollo EPF II and its predecessor
fund, Apollo European Principal Finance Fund (“Apollo EPF I”), of numerous
assets including Bank of America’s Spanish consumer credit card portfolio and
operations in August 2011, Bank of America’s Irish consumer credit card unit
in May 2012, and a portfolio of €265 million performing and €280 million
non-performing consumer loans held by Citibank in Spain in September 2012.
Upon completion of the acquisition of the Portfolio, Apollo EPF I and Apollo
EPF II will have acquired approximately €2.7 billion of credit card and
consumer loan receivables in Ireland and Spain, which are serviced by a staff
of approximately 675 persons in total. Apollo EPF I and Apollo EPF II have
been significant investors in European non-performing loan portfolios and
other illiquid assets divested by financial institutions, having completed
more than 30 transactions comprised of more than 1 million loans with
outstanding claims of more than €10 billion.

“This transaction underscores Apollo’s ability to leverage its integrated
platform to provide differentiated solutions to European financial
institutions as they restructure their balance sheets. In addition, this
transaction will bring our invested capital in Spain since 2011 to more than
€1 billion, underscoring our commitment to Spain as a core market for our
activities. We have further solidified our relationship with Bankia, one of
the leading Spanish financial institutions, and we look forward to growing
this relationship in the future,” said Andrés Rubio, EPF Partner and Head of
Apollo EPF’s Spanish franchise.

“Apollo EPF continues to provide holistic solutions in partnership with
numerous European financial institutions, enabling both parties to achieve
their objectives. Our business is exclusively focused on Europe and our broad
mandate to acquire performing and non-performing portfolios of consumer
receivables, residential and commercial mortgage loans, in addition to direct
real estate, make us a strong partner,” said David Abrams, Managing Partner of
Apollo EPF.

AboutApollo Global Management, LLC

Apollo is a leading global alternative investment manager with offices inNew
York,Los Angeles, Houston, London, Frankfurt,Luxembourg,Singapore,
MumbaiandHong Kong. Apollo had assets under management ofapproximately $113
billion as of December 31, 2012 in private equity, credit and real estate
funds invested across a core group of nine industries where Apollo has
considerable knowledge and resources. For more information about Apollo,


Investor Inquiries:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Media Inquiries:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
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