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

|About: Apollo Global Management,... (APO)|By:, SA News Editor

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)