Apollo Global Management, Inc. - APO STOCK NEWS

Tenneco (NYSE: TEN) has agreed to be acquired by Apollo (NYSE: APO) in an all-cash deal valued at approximately $7.1 billion, including debt. The acquisition offers Tenneco shareholders a purchase price of $20.00 per share, marking a notable 100.4% premium over the closing price on February 22, 2022. The transaction has been approved by Tenneco's Board and is expected to close in the second half of 2022, pending shareholder and regulatory approvals. Tenneco will continue to operate under its brand as a private company post-acquisition.

Apollo has launched the Apollo Opportunity Foundation, committing over $100 million to promote educational access, workforce development, and economic empowerment over the next decade. This initiative aims to eliminate barriers for underrepresented individuals and is supported by Apollo employees who will assist in nominating and evaluating organizations for funding. The Foundation aligns with Apollo's commitment to corporate citizenship and community engagement, building on previous efforts to diversify the alternative investment industry and promote career opportunities.

Apollo (NYSE: APO) has expanded its global partnership with Mubadala Investment Company to enhance its Capital Solutions business. This collaboration will enable Apollo to originate transactions across various asset classes, addressing market demand for tailored financing solutions. The partnership aims to accelerate Apollo's origination target over the next five years and will leverage Mubadala's expertise and resources. This initiative is expected to increase Apollo's relevance and transaction scale in the financing ecosystem, reinforcing its role as a preferred counterparty for corporate borrowers.

Spartan Acquisition Corp. III (NYSE: SPAQ) and Allego Holding B.V., a pan-European EV charging network, announced the SEC's approval for their business combination on February 10, 2022. A Special Meeting for stockholders to vote on this merger is scheduled for March 8, 2022, at 11:00 a.m. ET. If approved, Allego's stock will be listed on NYSE under the ticker 'ALLG.' Spartan encourages all stockholders to vote by March 7, 2022, to ensure representation. The merger is expected to enhance Allego's position in the European EV charging market amidst rising demand.

Brightspeed has appointed Courtland Madock as Chief Marketing Officer, effective immediately. Madock will oversee marketing and sales operations, aiming to enhance brand identity and customer engagement. Previously Vice President of Marketing at UScellular, she brings significant experience in the telecommunications industry.

Brightspeed plans to invest over $2 billion in building a high-speed fiber network to serve up to three million homes over the next five years. This development is part of a strategic initiative following its acquisition of ILEC assets from Lumen Technologies (NYSE: LUMN) by Apollo-managed funds (NYSE: APO).

Apollo (NYSE: APO) has announced a definitive agreement to acquire the majority of Novolex Holdings, a leading sustainable packaging provider, from Carlyle (NASDAQ: CG). Financial terms remain undisclosed. With a workforce of over 10,000 and 57 manufacturing facilities, Novolex specializes in environmentally friendly packaging solutions. The acquisition aims to enhance Novolex's market position through Apollo's extensive resources and experience in the packaging sector. The transaction is expected to close in the second quarter of 2022, pending regulatory approvals.

Apollo has signed a definitive agreement to acquire the majority stake in Novolex, a prominent provider of sustainable packaging solutions, from Carlyle. The financial terms of the deal remain undisclosed, but Carlyle will retain a minority interest. Novolex specializes in packaging innovation using renewable materials and operates 57 manufacturing facilities globally. With Apollo's backing, Novolex aims to enhance its market position, particularly amid rising demand for eco-friendly products. The acquisition is anticipated to close in Q2 2022, subject to regulatory approvals.

Aldar Properties and Apollo Global Management have announced a significant commitment involving a US$1.4 billion investment aimed at boosting Aldar's growth initiatives. The investment includes a US$500 million land joint venture and US$500 million in perpetual subordinated notes, marking a historic private placement in the MENA region. Apollo will acquire a minority stake in Aldar Investment Properties, reflecting confidence in Aldar's growth strategy and Abu Dhabi's real estate market. This partnership aims to enhance Aldar's capacity for future investments and development opportunities.

Apollo Global Management reported strong financial results for Q4 and full year 2021. The company achieved record annual distributable earnings, driven by a 15% increase in fee-related earnings compared to the previous year. CEO Marc Rowan highlighted progress in strategic initiatives post-merger with Athene, emphasizing growth in asset origination and retail investor capabilities. Apollo declared a quarterly cash dividend of $0.40 per share, with an annual target of $1.60, subject to business growth. As of December 31, 2021, Apollo managed approximately $498 billion in assets.