Apollo Global Management, Inc. - APO STOCK NEWS

Apollo has completed the acquisition of Tenneco, a major player in automotive products, for $20 per share, making Tenneco a privately held firm. Jim Voss has been appointed as the new CEO. Tenneco reported $18 billion in annual revenue and operates over 260 facilities globally with approximately 71,000 employees. Apollo aims to enhance Tenneco's growth through strategic investments. Following this acquisition, Tenneco's shares will no longer be traded on the NYSE.

Apollo Debt Solutions BDC announced an increase in its regular monthly distribution from $0.1408 to $0.1600 per share, raising the annualized distribution rate from 7.3% to 8.3% based on an October NAV of $23.07. This increase will start with the November 2022 distribution, payable on or about December 27, 2022. Additionally, Class S and Class D shares will see increases to $0.1439 and $0.1553 respectively, yielding 7.5% and 8.1% per year. The rise in distributions is attributed to higher core earnings from rising interest rates and favorable spreads on loan investments.

On November 16, 2022, Brightspeed, the fifth largest ILEC in the U.S., announced a Shared Success Plan for its employees, rewarding those with over 12 months of service with one-time payments linked to company valuation growth during a change of control. Following its separation from Lumen Technologies, Brightspeed aims to expand its fiber optics network, targeting over 1 million new fiber passings across 17 states by year-end 2023. The plan, funded by Apollo's private equity funds, emphasizes employee engagement in the company's transformative growth.

Intrado Corporation has announced a rebranding to West Technology Group, LLC, consolidating its various business names under a single umbrella brand. Key services include Notified, Mosaicx, TeleVox, SchoolMessenger, West Utilities, and West Telecom. The company is also divesting its Safety business to Stonepeak for $2.4 billion, expected to close in Q1 2023, continuing the legacy of the Intrado name in this sector. West aims to leverage its established reputation to enhance market presence while operating globally across multiple regions.

Liquidity Group, a fast-growing lender, is establishing an R&D center in Abu Dhabi, supported by the Abu Dhabi Investment Office's Innovation Programme. This partnership marks a significant step in enhancing Machine Learning capabilities within the region. The agreement, finalized during Abu Dhabi Finance Week 2022, will see Liquidity Group leverage financial incentives to develop advanced underwriting algorithms and machine learning solutions. This initiative aims to bolster Abu Dhabi's status as a financial hub while fostering collaboration between the UAE and Israel.

25m Health has made significant strides in its first year, launching six startups and investing in five others, focusing on innovative healthcare solutions. Established in November 2021 through a collaboration between Lifepoint Health, 25madison, and Apollo Global Management (NYSE: APO), the incubator targets improvements in care access, quality, and delivery. Key companies include Eon, Keragon, and Midi, addressing diverse healthcare needs. Leadership is strengthened with seasoned industry experts to drive innovation and scalability in healthcare.

Intrado Corporation has announced updates to its Notified PR platform, enhancing features like CRM tools, targeted media profiles, and social media analytics to support public relations professionals. Key updates include expanded CRM functionalities for better media alignment, improved media contact profiles, custom newsletter creation, and advanced social media engagement metrics. These enhancements aim to provide comprehensive data insights and streamline campaign management. Notified will showcase these updates at the PRSA Annual Conference in Grapevine, TX, from November 13-15, 2022.

Pegasus Merger Co., linked to Apollo Global Management, has extended the expiration date of its cash tender offers for Tenneco's Senior Secured Notes from November 7, 2022, to November 14, 2022. Over 99% of the 5.125% Notes and 98% of the 7.875% Notes have been tendered. The transaction is contingent upon consummation of a merger and other financing conditions. The total consideration for both notes includes a tender consideration of $982.50 for the 5.125% Notes and $1,012.50 for the 7.875% Notes, excluding accrued interest.

Newbond Holdings has announced its acquisition of the Hotel Tampa Riverwalk, formerly the Sheraton Tampa Riverwalk Hotel, in collaboration with investment funds from Apollo (NYSE: APO). This 277-room hotel will undergo significant renovations, including a rebrand and a new waterfront restaurant, aiming to establish itself as downtown Tampa's premier urban waterfront resort. The property offers direct access to Riverwalk Boulevard, enhancing its appeal with outdoor amenities and meeting spaces.