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Stock Market & Financial Investment News

News Breaks
January 31, 2013
05:06 EDTAPOApollo, Metropoulos will not assume any of Hostess liabilities or obligations
Affiliates of Apollo Global and Metropoulos announced that they have entered into a "stalking horse" asset purchase agreement to acquire certain assets of Hostess Brands baked snack foods business for $410M in cash. Per the terms of the agreement, Apollo and Metropoulos will acquire certain Hostess Snacks brands, including, among others, Twinkies, Mini Muffins, Cup Cakes, Ho Hos, Zingers and Suzy Q's, and five Hostess Snacks bakeries located throughout the U.S. The agreement provides for the acquisition of the assets of Hostess Snacks free and clear and does not require Apollo and Metropoulos to assume any of Hostess Snacks' liabilities or other obligations. The asset purchase agreement constitutes a "stalking horse bid" in a sale process being conducted under Section 363 of Chapter 11 of the U.S. Bankruptcy Code. As such, the acquisition of Hostess Snacks by Apollo and Metropoulos remains subject to approval by the United States Bankruptcy Court for the Southern District of New York and a subsequent auction process in which other interested buyers may submit competing bids for the assets of Hostess Snacks. Completion of the transaction is expected to occur prior to the end of April.
News For APO From The Last 14 Days
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March 24, 2015
14:34 EDTAPOGreat Wolf Resorts to be acquired by affiliate of Centerbridge Partners
Great Wolf Resorts announced that it has entered into a definitive agreement and plan of merger with an affiliate of Centerbridge Partners, whereby Centerbridge will acquire Great Wolf. Great Wolf is currently controlled by funds affiliated with Apollo Global Management (APO).
08:35 EDTAPOSpecial examiner may force bankruptcy for Caesars Growth Partners, NY Post says
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March 20, 2015
06:47 EDTAPOCreditors dispute 'inside deals' surrounding Caesars loyalty program, WSJ says
Caesars Entertainment's (CZR) customer loyalty program has been valued at $1B by creditors, who alleged in lawsuits surrounding its January bankruptcy that the Caesars parent company and majority stake holder Apollo (APO) made several improper deals designed to keep the loyalty unit inaccessible to creditors, reports the Wall Street Journal. Fitch Ratings analyst Alex Bumazhny now calls a swift bankruptcy process "increasingly unlikely," while the presiding judge gave additional scope last week to investigate the disputed deals. Reference Link
March 19, 2015
07:55 EDTAPOMolycorp bondholders led by Apollo close to hiring Blackstone, Bloomberg says
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March 18, 2015
15:22 EDTAPOMolycorp creditors close to hiring Blackstone, Bloomberg says
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07:27 EDTAPOFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:18 EDTAPOWells Fargo to hold a forum
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