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Credit Suisse to Sell Most of SPG Unit to Apollo-Led Group

Credit Suisse Group AG has signed an exclusivity agreement with a group of investors led by Apollo Global Management Inc. to sell the bulk of its securitized products group business.

If the deal happens, the group, which also includes Pacific Investment Management Co., will buy “the majority of SPG’s assets from Credit Suisse and other related financing businesses from Credit Suisse,” the Swiss lender said in a release Thursday.