Apollo Global Management, Inc. - APO STOCK NEWS

Intrado Corporation and Encore have announced a strategic partnership aimed at enhancing event experiences for both virtual and in-person audiences. This collaboration will combine Intrado's technology platform with Encore's event production capabilities, allowing clients to manage hybrid events more efficiently. With over 1.8 million events produced annually, the partnership aims to deliver consistent and engaging experiences worldwide. The initiative reflects the significant shift towards virtual events in the industry.

AWH Partners and Apollo Global Management (NYSE: APO) acquired the DoubleTree by Hilton Hotel in Anaheim, CA. The deal, finalized after nearly 12 months, included assuming existing debt. The 461-key property, located near major attractions, aims to attract business and leisure travelers. Management has transitioned to Spire Hospitality, which plans a comprehensive renovation to enhance the hotel’s appeal in a competitive market. Strategic positioning near the Anaheim Convention Center promises strong future performance.

ABC Technologies has finalized the sale of a majority stake to the Apollo Funds, an affiliate of Apollo Global Management, for CAD$10.00 per share, totaling approximately 27.7 million shares, representing 51% of the company. The transaction leads to new board reconstitutions, with Apollo nominating five out of nine members. CEO Todd Sheppelman highlights the transaction as a significant milestone for growth within the automotive technical plastics sector, while Apollo expresses enthusiasm about future collaborations. Public shareholders retain about 20.9% of shares post-transaction.

Intrado Corporation has initiated an Asset Sale Offer to purchase up to $100 million of its 8.50% Senior Notes due 2025 at 100% of the principal amount, plus accrued interest. The offer is set to expire on July 21, 2021. If the total amount of Notes tendered exceeds the offer amount, purchases will be made on a pro rata basis. The company emphasizes that the press release is not a redemption notice or an offer to sell securities, and it only applies to validly tendered Notes.

Intrado Corporation has completed the sale of its Health Advocate business to Teleperformance for approximately $690 million. The net proceeds are around $591 million after taxes, fees, and expenses. Intrado plans to use approximately $350 million to pay down its term loans and $100 million for repurchasing its Senior Notes due 2025. The remainder of the proceeds will be reinvested in the company, allowing focus on cloud-based technology and next-generation solutions.

Intrado Corporation will host a free live virtual event, 911 Live | The Frontline, on June 29, 2021, aimed at the public safety community. The event features panel discussions on emerging technologies affecting emergency communications, including topics like Smart Cities, cloud-based systems, and non-voice emergency services. Attendees will engage with experts through interactive sessions and Q&A. Jeff Robertson, President of Intrado Life & Safety, emphasizes the importance of advancing public safety technologies.

Platinum Equity has announced a definitive agreement to acquire McGraw Hill from Apollo Funds for approximately $4.5 billion. This acquisition aims to leverage McGraw Hill's extensive educational content and digital platforms, which generate over $1 billion in annual revenue. The digital revenue share has increased significantly, from less than 25% in 2013 to over 60% today. The transaction is subject to regulatory approval and is expected to complete in the summer of 2021, with McGraw Hill's leadership team remaining intact.

Apollo, Ares, and Oaktree have launched a $90 million initiative, AltFinance: Investing in Black Futures™, aimed at diversifying the alternative investment sector. This 10-year program targets students from Clark Atlanta University, Morehouse College, and Spelman College, providing mentorship, scholarships, and career pathways. The initiative includes a fellowship program, a virtual institute created in partnership with Wharton, and aims to remove financial barriers for students. Each firm will contribute $3 million annually to support this transformative effort.

Apollo Global Management (NYSE: APO) announced a commitment to invest up to $500 million in senior secured credit facilities through Victory Park Capital (VPC). This partnership focuses on asset-backed lending to e-commerce aggregators, particularly those operating on Amazon. The collaboration aims to enhance capital access for growth-oriented firms in the digital marketplace. This venture marks Apollo’s entry into growth lending and aims to leverage VPC's expertise in asset-backed credit, positioning both firms to capitalize on emerging opportunities in this high-growth sector.