Apollo Global Management, Inc. (APO)
| Previous close | 50.24 |
| Open | 50.50 |
| Bid | 50.47 x 1300 |
| Ask | 50.49 x 1200 |
| Day's range | 50.40 - 51.03 |
| 52-week range | 34.85 - 55.39 |
| Volume | 209,420 |
| Avg. volume | 2,329,222 |
| Market cap | 11.848B |
| Beta (5Y monthly) | 1.61 |
| PE ratio (TTM) | 115.95 |
| EPS (TTM) | 0.44 |
| Earnings date | 03 May 2021 |
| Forward dividend & yield | 2.40 (4.78%) |
| Ex-dividend date | 18 Feb 2021 |
| 1y target est | 57.04 |
- Bloomberg
Apollo Weighs Florida Outposts as Escape From New York Heats Up
(Bloomberg) -- Apollo Global Management Inc. is considering opening additional offices in Florida and elsewhere as it seeks to lure and retain talent in a world upended by the pandemic.The private equity firm is weighing outposts in Miami and West Palm Beach, as well as an office elsewhere in the U.S., and another in Europe, said spokeswoman Joanna Rose. Apollo, which will retain its New York headquarters, recently surveyed employees about where they prefer to work as part of a strategy to attract a broader talent pool, she said.Apollo, with 1,729 employees at year-end, has been gathering feedback over the past year as the pandemic forced companies to rethink how their employees work. Many are relocating or experimenting with more flexible work arrangements. Apollo is among those to test giving employees the option of working remotely two days a week.The pandemic has also prompted Wall Street firms to consider moving staff to locales with no state income taxes, such as Florida and Texas. This year, Goldman Sachs Group Inc. asked managers to identify employees who wish to relocate to West Palm Beach. Several hedge fund firms, including Elliott Management Corp., Citadel and Point72 Asset Management, announced plans to establish offices in Florida.New York’s wealthiest residents also face higher taxes after Governor Andrew Cuomo and state lawmakers struck a budget deal earlier this month. The combined top rate for the city’s top earners will be the highest in the U.S. BlackRock Inc. Chief Executive Officer Larry Fink said Thursday that he worries the higher tax burden may encourage people to relocate.Read more: Fink Frets Over NYC’s Future, Fearing an Exodus Over TaxesWhile Apollo’s employees may choose to go elsewhere, the firm has no plans to pull back from New York, Rose said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Business Wire
Apollo Funds to Acquire Majority Control of ABC Technologies Holdings Inc.
ABC Technologies Holdings Inc. (TSX: ABCT) ("ABC Technologies", "ABC" or the "Company") announced today that its majority shareholder, ABC Group Canada LP ("ABC LP"), an affiliate of funds managed by Cerberus Capital Management, L.P., ("Cerberus") has entered into a share purchase agreement (the "Agreement"), with certain funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) ("Apollo") to sell a majority stake in the Company to the Apollo Funds.
- Bloomberg
UAE’s Mubadala May Join $12 Billion Aramco Oil Pipelines Deal
(Bloomberg) -- An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco’s oil pipelines, in a deal set to be backed by a loan of around $10.5 billion.Mubadala Investment Co., a fund with $232 billion of assets, is in talks with U.S. investor EIG Global Energy Partners LLC, the lead member of the consortium, according to a Mubadala spokesperson.Aramco has helped put together the loan, which the group will use to fund the transaction, according to other people familiar with the matter. BNP Paribas SA, Citigroup Inc., HSBC Holdings Plc and Mizuho Financial Group Inc are among the lenders, said the people. All four banks declined to comment.Washington-based EIG and Aramco, the world’s largest oil company, announced the $12.4 billion deal late Friday. The investors will buy 49% of Aramco Oil Pipelines Co., a recently-formed entity with rights to 25 years of tariff payments for crude shipped through the Saudi Arabian firm’s network. Aramco will own the rest of the shares and retain full ownership of the pipelines themselves.The transaction is part of Saudi Arabia’s drive to open up more to foreign investment and use the money to diversify its economy, which was hammered last year by coronavirus lockdowns and the fall in oil prices.The disposal may also help Aramco reduce its debt and maintain its dividend, the biggest of any listed firm globally. The company -- 98% owned by the Saudi government -- paid out $75 billion to shareholders for 2020.The deal is structured similarly to one last year involving Abu Dhabi National Oil Co. In June, Adnoc raised $10.1 billion by selling leasing rights over its natural-gas pipelines to a group including Global Infrastructure Partners and Singapore’s sovereign wealth fund, GIC Pte.East-West PipelineHSBC advised EIG on the Aramco acquisition, one of the largest this year in the energy sector. Apollo Global Management Inc., Brookfield Asset Management Inc. and BlackRock Inc. were among the other investors that made or considered bids.Mubadala is the second-biggest wealth fund in the United Arab Emirates, of which Abu Dhabi is the capital.The transaction covers all of Aramco’s existing and future pipelines in the kingdom, according to EIG. The company’s vast network includes the East-West Pipeline, which can carry more than 5 million barrels of crude a day from Saudi Arabia’s main fields in the east to Yanbu on the Red Sea.EIG described it as a “lease and lease-back agreement.” Aramco will lease usage rights for its pipelines to the new subsidiary, which will then give Aramco the exclusive right to use the network for the 25-year period in exchange for a quarterly, volume-based tariff. Aramco will retain all operating and capital expense risk, EIG said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
