Apollo Global Management, LLCNYSE
Tue, Nov. 22, 2:12 PM| Tue, Nov. 22, 2:12 PM | 1 Comment
Tue, Nov. 8, 1:02 PM
- An anticipated deal for Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) to sell its Australian coal assets to a consortium headed by Apollo Global Management (NYSE:APO) has broken down, Reuters reports.
- Reports last month indicated a deal was expected, although one source had said finalizing the agreement had been complicated by the 200%-plus surge in prices for coking coal.
- Anglo said in February that discussions were under way to divest its Moranbah and Grosvenor coal mines in Queensland state as part of its plans to sell $3B-$4B of assets this year.
Mon, Oct. 31, 2:58 PM
- Apollo Global (NYSE:APO) on Friday reported a far stronger than expected Q3, but was unable to hold gains amid a jittery market that afternoon, and as investors maybe booked some profits after more than a 50% run higher for the stock since February.
- Reiterating a Buy rating and boosting the price target to $24 from $20 (30%+ upside), UBS's Brennan Hawken is impressed with how much money Apollo put to work in Fund VIII Q3, thus allowing fundraising to get going for Fund IX.
- Importantly, Apollo isn't just throwing money at deals - the average deal in Fund VIII was done at about 6x EBITDA (vs. industry average of 11x), and the fund was in carry for a 2nd straight quarter despite still being in investment phase.
- "We believe the firm's willingness to do more complex deals has aided in finding attractive areas to put capital to work and should bode well for returns and realizations as these funds season."
- Shares +1.15% today.
Fri, Oct. 28, 4:03 PM
- Amid McGraw-Hill's struggles to compete with online peers, Apollo Global (NYSE:APO) has backed off IPO plans, according to Bloomberg.
- Pushing the decision delay forward were back-to-school sales, which fell short of projections.
- Apollo initially hoped to take McGraw-Hill public early this year, but had to scale those plans back to H2 after the rough start to 2016.
Fri, Oct. 28, 7:27 AM
- Q3 economic net income of $230.7M or $0.58 per share vs. $104M and $0.26 one year ago. Distributable earnings of $148.5M or $0.36 per share vs. $142.6M and $0.36 one year ago.
- Distribution this quarter of $0.35 vs. $0.37 in Q2 and $0.35 one year ago.
- AUM of $188.6B up from $161.8B a year ago; fee-generating AUM of $148.7B up from $131B; carry-eligible AUM of $84.7B and carry-generating AUM of $51.4B. Dry powder of $24.4B.
- Private equity ENI of $130.4M vs. a loss of $12.6M a year ago. Credit ENI of $148.9M vs. $117M.
- Earnings presentation
- Conference call at 10 ET
- Previously: Apollo Global Management beats by $0.12, beats on revenue (Oct. 28)
- APO flat premarket
Fri, Oct. 28, 7:11 AM
Thu, Oct. 27, 5:30 PM
Thu, Oct. 27, 3:37 PM
- Sanchez Energy (SN +2.7%) is in talks to partner with Blackstone (BX +1%) on a deal to purchase Anadarko Petroleum's (APC +1.5%) south Texas oil and gas assets for $3B-$3.5B, WSJ reports.
- Blackstone and the P-E firm’s GSO Capital Partners credit arm likely would fund or participate in the purchase, although the details are not known, according to the report.
- Sanchez reportedly also has been in talks with Apollo Global Management (APO +1.5%) and energy-focused P-E firm EIG Global Energy Partners to participate in the bid.
Thu, Oct. 13, 1:28 PM
- Apollo Global (NYSE:APO) has teamed up with Xcoal Energy & Resources to beat out the likes of BHP Billiton for Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) Australian metallurgical coal assets, according to Bloomberg.
- The deal value could ultimately top $1.5B, and include a contingent value right which may include more money for Anglo if the price of coking coal rises in the future.
- Anglo, meanwhile is lower by 4.7% today as the mining sector as a whole takes a hit from weak Chinese export data.
Tue, Oct. 4, 7:11 PM
- Little-known Caelus Energy, a closely-held oil exploration company backed by P-E firm Apollo Global Management (NYSE:APO), says it has made a world-class oil discovery in remote Alaska.
- Caelus says it expects to be able to extract 1.8B-2.4B barrels from the discovery made in the shallow waters of Smith Bay, ~300 miles north of the Arctic Circle.
- The company hopes to build an $800M, 125-mile pipeline to carry the oil underneath Alaska-owned waters to connect with existing pipelines, which likely will generate strong support from a state hurting from plummeting oil revenue.
Mon, Oct. 3, 4:50 PM
- The P-E consortium headed by Apollo Global Management (NYSE:APO) is the clear front-runner to purchase Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) Queensland metallurgical coal assets and now is in exclusive talks, Australian Financial Review reports.
- APO reportedly is working in a consortium with Pennsylvania coal exporter Xcoal Energy Resources, the largest U.S. exporter of coal.
- A BHP Billiton (NYSE:BHP) alliance with Mitsubishi and U.S.-based Coronado Coal have not yet pulled out of the race for the assets, according to the report.
Tue, Sep. 27, 1:56 PM
- Outerwall (NASDAQ:OUTR) announces the deal to be acquired by affiliates of Apollo Global Management (APO +0.2%) for $52.00 per share has been completed.
- The company's segments will be managed and operated as three distinct businesses. Galen Smith was named CEO of Redbox, while James Gaherity and David Maquera will run the Coinstar and ecoATM businesses, respectively. Current Outerwall CEO Erik Prusch will step away.
- Source: Press Release
Tue, Sep. 27, 1:08 PM
- With payment made, Apollo Global Management (NYSE:APO) has wrapped its purchase of kiosk operator Outerwall (NASDAQ:OUTR).
- Apollo paid $52/share (total enterprise value of $1.6B, including debt). On Sept. 23, about 69.3% of the outstanding shares of Outerwall were tendered and accepted.
- The firm said Outerwall's segments will be operated as three distinct businesses: Galen Smith will run Redbox as its CEO, James Gaherity will serve as CEO of Coinstar, and David Maquera will act as CEO of ecoATM.
- Outerwall CEO Erik Prusch is leaving the company.
Tue, Sep. 27, 11:12 AM
- "For any professional investor, this is the most difficult period we’ve ever experienced,” says Joe Baratta, Blackstone's (NYSE:BX) global head of private equity. “You have historically high multiples of cash flows, low yields. I’ve never seen it in my career. It’s the most treacherous moment.”
- For private-equity players, lofty valuations make it a great time to cash in on investments, but a not-so-great time to redeploy capital into new deals. Not finding a lot of value in large LBOs, Baratta says Blackstone is targeting smaller companies with lower leverage.
- Source: Bloomberg's Devin Banerjee
- Other interested parties: Carlyle Group (NASDAQ:CG), Apollo Global (NYSE:APO), KKR, Fortress Investment (NYSE:FIG)
Mon, Sep. 19, 6:21 PM
- Community Health Systems (NYSE:CYH) +7.1% AH higher following a Reuters report that Apollo Global Management (NYSE:APO) is among P-E firms and REITs in talks to acquire some of the company's assets.
- APO is seeking to add scale to its RegionalCare Hospital Partners portfolio company with more hospitals, according to the report.
- CYH said earlier that it was in the early stages of exploring a variety of options with unnamed financial sponsors, as well as other unspecified alternatives.
- On Friday, Bloomberg published a report speculating on a potential sale of CYH that offered few statistics.
Fri, Aug. 26, 8:56 AM