Apollo Funds Complete Sale of ALTEMIRA, Leading Pan-Asian Aluminum Packaging Company
Rhea-AI Summary
Apollo (NYSE: APO) announced that Apollo-managed funds completed the sale of their interest in ALTEMIRA, a leading pan-Asian aluminum packaging company, to funds managed by MBK Partners.
ALTEMIRA was formed in 2022 via a carve-out from Showa Denko and Mitsubishi Materials and now operates a vertically integrated, closed-loop aluminum recycling ecosystem.
Positive
- Completed sale of ALTEMIRA interest to funds managed by MBK Partners
- ALTEMIRA built a vertically integrated, closed-loop aluminum recycling platform
- Transaction adds to Apollo Funds’ track record of exits in Japan, following MAFTEC
- ALTEMIRA viewed as an example of sponsor-led industry consolidation in Japanese industrials
Negative
- None.
News Market Reaction – APO
In the Jun 3 session, APO declined 3.42%, reflecting a moderate negative market reaction. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 20 | Conference participation | Neutral | -1.5% | Announcement of participation in Bernstein Strategic Decisions Conference webcast. |
| May 14 | Portfolio company update | Positive | +3.0% | Stream Data Centers expanded executive team to support hyperscale demand. |
| May 12 | Majority stake acquisition | Positive | +1.1% | Apollo funds acquired majority interest in Noble Environmental waste platform. |
| May 11 | Acquisition agreement | Positive | -2.1% | MidOcean agreed to sell Questex to Apollo-managed funds for liquidity event. |
| May 11 | Platform creation deal | Positive | -2.1% | Apollo funds to acquire Emerald and Questex to form B2B events platform. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent deal and conference headlines show mixed reactions, with some positive M&A news followed by share declines, indicating inconsistent alignment between transaction announcements and price moves.
Over the last few weeks, Apollo reported several transaction-focused updates and one conference appearance. In May 2026, Apollo funds agreed to acquire Emerald and Questex and later acquired a majority stake in Noble Environmental, while an associated data-center platform expanded its leadership team. A Bernstein conference appearance and the Questex transaction with MidOcean also featured. Price reactions ranged from about -2% to nearly +3%, showing varied market responses to similar strategic and capital deployment news.
Key Terms
carve-out financial
m&a financial
vertically integrated technical
closed-loop aluminum recycling technical
private equity financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
TOKYO and NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) announced that Apollo-managed funds (the “Apollo Funds”) completed the sale of their interest in ALTEMIRA Holdings Co., Ltd. (“ALTEMIRA” or the “Company”), a leading pan-Asian aluminum packaging company, to funds managed by MBK Partners.
ALTEMIRA was established in April 2022, through the combination of the aluminum can and foil business formerly operated by Showa Denko K.K. (now named Resonac Holdings Corporation) and the aluminum can and rolled and extruded products business of Mitsubishi Materials Corporation. ALTEMIRA is one of the first successful examples of sponsor-led industry consolidation in the Japanese industrials sector, demonstrating Apollo’s ability to execute a complex carve-out and support the subsequent transition to a fully independent, standalone enterprise and drive broader transformation and industry consolidation through M&A.
As a result, ALTEMIRA has emerged as a differentiated platform with scale, operating one of the world’s only vertically integrated, closed-loop aluminum recycling ecosystems—spanning used beverage can collection, processing, slab casting, rolling into coils and fabrication into beverage cans. Apollo Fund’s investment in ALTEMIRA also highlights its role as a trusted partner to Japan’s leading corporations, offering differentiated solutions to help businesses execute their strategic priorities in sectors that have historically been difficult for outside capital to access.
The transaction follows Apollo Funds’ successful exit of MAFTEC announced in June 2025. Apollo Funds’ private equity investments in Japan include Panasonic Automotive Systems and Nippon Sheet Glass (pending closing).
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately
Contacts
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com
