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Last $22.40 USD
Change Today +0.12 / 0.54%
Volume 2.0M
APO On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

apollo global management - a (APO) Key Developments

General Electric Reportedly Hires Advisor To Sell Interbanca And Unit That Funds Leveraged Buyouts

General Electric Company (NYSE:GE) has engaged Deutsche Bank to sell GE Capital Interbanca S.p.A., according to two sources familiar with the matter. The source did not disclose how much the sale might fetch. One of the sources said that Deutsche Bank could conduct a piecemeal sale and offload Interbanca's units such as lending, factoring, leasing and fleet as standalone businesses as a way to maximise value. It could also combine some of the assets with their European equivalents and favour a "bundle" deal provided there is enough appetite from prospective bidders, source added. Reuters reported that spokesmen at GE Capital and Deutsche Bank declined to comment. Several private-equity firms are vying to buy General Electric Co.’s unit that funds leveraged buyouts, in a sale process that could fetch more than $17 billion. General Electric Company (NYSE:GE), which enlisted J.P. Morgan Chase & Co. and Citigroup Inc. to auction off the buyout-finance business, recently narrowed down the suitors from an initial round involving a dozen bidders. KKR & Co. L.P. (NYSE:KKR), Apollo Global Management, LLC (NYSE:APO) and Ares Management, L.P. (NYSE:ARES) are among the firms expected to submit final-round bids for the unit on May 28, 2015, according to people familiar with the sale process. Canada’s largest pension fund, Canada Pension Plan Investment Board, and Guggenheim Securities, LLC also are expected to submit offers, the people said. An agreement could be announced as soon as next week, the people added. The sale is part of GE’s efforts to unload the bulk of its GE Capital business.GE is also selling a portfolio consisting of $74 billion of loans to U.S. businesses.

Investors Reportedly Mulls Acquisition Of Hostess Brands

Post Holdings, Inc. (NYSE:POST) reportedly is seeking acquisition of Hostess Brands, LLC from Apollo Global Management, LLC and C. Dean Metropoulos & Co. “Post Holdings is among several bidders seeking to acquire Hostess Brands Inc. for roughly $2 billion,” a source close to the situation told the New York Post. Other reported bidders include Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A), Flowers Foods, Inc. (NYSE:FLO)and ARYZTA AG (SWX:ARYN), the sources told the newspaper. Representatives from Post Holdings, Flowers Foods and Grupo Bimbo didn't respond with comments for the newspaper's report.

Apollo Reportedly Seeks To Acquire Nova Kreditna

The Government put Nova Nova Kreditna Banka Maribor d.d. up for sale in 2014 and sources have said Apollo Global Management, LLC (NYSE:APO) was the best bidder, offering about €200 million. However, Radio Slovenia said Apollo was only prepared to buy Nova Kreditna if the EU restrictions on its business were eased. Apollo declined to comment while the Slovenian finance ministry and the state investment firm SDH gave no immediate comment.

Apollo Global Management, LLC Presents at Keefe, Bruyette, & Woods Asset Management & Capital Markets Conference, Jun-03-2015

Apollo Global Management, LLC Presents at Keefe, Bruyette, & Woods Asset Management & Capital Markets Conference, Jun-03-2015 . Venue: New York, New York, United States.

Kohlberg Reportedly Sells Its Life Settlement Portfolio To Apollo

Kohlberg & Company, L.L.C. sold its life settlement portfolio to Apollo Global Management, LLC (NYSE:APO), several people familiar with the transaction said. The portfolio sold on or around May 8, 2015 holds about 315 policies with about $875 million in total death benefits, a person knowledgeable about the matter said. The portfolio was made up of the now-defunct investment bank Bear Stearns' piece of the Ritchie Capital Management LLC portfolio, JPMorgan Chase & Co. portfolio and policies originated by Life Equity LLC, the person said. The price for the portfolio was in line with similar portfolios that have sold recently, a person familiar with the situation said.

 

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Industry Analysis

APO

Industry Average

Valuation APO Industry Range
Price/Earnings 54.7x
Price/Sales 2.8x
Price/Book 2.3x
Price/Cash Flow 22.2x
TEV/Sales NM Not Meaningful
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