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Apollo Global Management (APO) plans to exit Realogy Holdings (RLGY) by selling its remaining...

Apollo Global Management (APO) plans to exit Realogy Holdings (RLGY) by selling its remaining 25.1M shares in the residential brokerage's secondary offering. At Realogy's close yesterday of $49.29, Apollo would earn $1.24B from the sale, having bought the company for $6.8B in 2007. (PR) Meanwhile, Realogy estimates its Q2 EPS at a preliminary $1.03-1.09 vs consensus of $0.68 and net revenue at +17-18% to $1.53-1.54B; home-sale transactions climbed 21%, above the company's May forecast for +14-17%. (PR)
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