Deals
Apollo to Consider Buying Debt to Control Sanchez Energy
- Buyout firm among those that may seek control of Sanchez
- Any deal likely to be complicated by oil producer’s structure
Photographer: Luke Sharrett/Bloomberg
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Apollo Global Management LLC is weighing an investment in struggling oil producer Sanchez Energy Corp.’s debt, according to people with knowledge of the matter.
The New York-based private equity firm is among the potential investors that may buy Sanchez’s debt to take control of the company as part of a restructuring, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The Sanchez family could keep a minority interest under the new shareholding structure, the people said.