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Last $18.72 USD
Change Today -0.33 / -1.73%
Volume 95.5K
APO On Other Exchanges
Symbol
Exchange
New York
As of 10:18 AM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

apollo global management - a (APO) Key Developments

Anbang's Acquisitions On Novo Banco Could Fall Apart

Anbang Insurance Group Co., Ltd.'s potential acquisition of Novo Banco, S.A. could fall through amid ECB and Banco de Portugal doubts over the deal, the Financial Times reported on August 23, 2015. Novo Banco is reported to have set August 31, 2015 deadline for talks with a single bidder, understood to be Anbang. Anbang is known to have made the highest offer for Novo Banco, outbidding Apollo Global Management, LLC (NYSE:APO) and Fosun International Limited (SEHK:656). Anbang is reported to be capping the amount it is willing to inject into Novo Banco, saying any additional capital requirement flagged by ECB stress tests would have to be met by the Portuguese government.

Apollo Global Management, LLC Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015

Apollo Global Management, LLC announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $351,727,000 compared to $572,152,000 a year ago. Net income from investment activities of $9,534,000 compared to net loss of $24,424,000 a year ago. Income before income tax provision was $157,166,000 compared to $287,339,000 a year ago. Net Income was $148,074,000 compared to $252,302,000 a year ago. Net income attributable to company was $56,428,000 or $0.30 per basic and diluted class A share compared to $71,668,000 or $0.33 per basic and diluted class A share a year ago. For the six months, the company reported total revenues of $654,751,000 compared to $1,063,552,000 a year ago. Net gains from investment activities of $26,542,000 compared to $213,874,000 a year ago. Income before income tax provision was $244,178,000 compared to $779,532,000 a year ago. Net Income was $229,572,000 compared to $711,946,000 a year ago. Net income attributable to company was $87,355,000 or $0.40 per basic and diluted class A share compared to $143,837,000 or $0.64 per diluted class A share a year ago.

Apollo Global Management, LLC Declares Second Quarter 2015 Cash Distribution, Payable on August 31, 2015

Apollo Global Management, LLC has declared a second quarter 2015 cash distribution of $0.42 per Class A share. This distribution will be paid on August 31, 2015 to holders of record at the close of business on August 18, 2015.

TreeHouse, Post Reportedly Join ConAgra's Private Label Auction

Investors are reportedly seeking acquisition of stakes in Ralcorp Holdings Inc. ConAgra Foods, Inc. (NYSE:CAG) has started talks with Treehouse Foods, Inc. (NYSE:THS) and Post Holdings, Inc. (NYSE:POST) regarding the sale of its private label unit Ralcorp, which could be valued at around $3.5 billion, according to people familiar with the matter. TreeHouse, Post, and private equity firms that include Apollo Global Management, LLC (NYSE:APO)and Cerberus Capital Management, L.P. have joined the auction for Ralcorp, which is still at its early stages, the people said this week. ConAgra is seeking to sell the private label business, which also includes a bakery segment, in its entirety, rather than carving it into smaller parts, according to the sources. The sources asked not to be identified because details of the sale process are confidential. ConAgra, Apollo and Cerberus declined comment. TreeHouse and Post did not respond to requests for comment.

Intesa Sanpaolo To Sell Consumer Credit Unit

Intesa Sanpaolo S.p.A. (BIT:ISP) is looking to sell its Accedo consumer credit unit by the end of 2015 as part of a multi-year plan to shed non-core assets, two sources close to the matter said. The deal could be worth around €400 million. Intesa Sanpaolo aims to sell both the unit, which grants loans guaranteed by a portion of the debtors' salary. It would keep a network of financial advisers, the sources said, adding talks between the bank and potential buyers were already underway. One source said investment funds Apollo Global Management and Lone Star were the front-runners. Investment managers Vaerde Partners and Christofersson Robb & Company are also in the running, the source said. The second source mentioned also Fortress Investment Group LLC (NYSE:FIG) among suitors.

 

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Industry Analysis

APO

Industry Average

Valuation APO Industry Range
Price/Earnings 47.5x
Price/Sales 2.9x
Price/Book 4.4x
Price/Cash Flow 21.3x
TEV/Sales NM Not Meaningful
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