Deals
Apollo-Led Group Purchases El Paso Unit for $7.15 Billion
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A group led by Apollo Global Management LLC agreed to acquire El Paso Corp.’s oil and natural gas exploration business for $7.15 billion in the second-biggest private equity takeover of an energy producer.
Apollo joins Riverstone Holdings LLC, Access Industries Inc. and other investors in the transaction, El Paso said in a statement today. Riverstone, based in New York, invests in the energy and power industries, and Access is the New York-based firm founded by Russian-born investor Len Blavatnik.