(Opalesque) Private equity firm Apollo Global Management agreed to purchase an 18% stake in Athene Holding Ltd. in a deal valued at about $1.55 billion. Under the terms of the deal, Apollo will acquire about 35.5 million common shares of Athene, boosting its stake in the company to about 35%.Athene will also purchase a 7% equity stake in Apollo. The two firms are using a stock swap for the deal. Athene shares had the biggest gain since August 2018.
Apollo doubles Athene stake in a deal valued at about $1.55bn
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