Apollo Deepens Abu Dhabi Investment With $1.4 Billion Aldar Deal

Bloomberg2022-02-14

(Bloomberg) -- Apollo Global Management Inc. signed a deal to invest $1.4 billion in Aldar Properties PJSC as the private equity giant deepens its investments in Abu Dhabi’s real estate market.As part...

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BullishKing
2022-02-14
BullishKing
Yeah. Pls like.
dkpoh
2022-02-14
dkpoh
666

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At home, the developer is growing its management business, and beyond the United Arab Emirates it has gained a foothold in Egypt through the acquisition of a majority stake in Sodic.Apollo deal is structured as:$500 million: investment into a land joint venture$500 million: perpetual subordinated notes issued by Aldar Investment Properties$300 million: mandatory convertible preferred equity investment in Aldar Investment Properties$100 million: common equity investment in Aldar Investment PropertiesAldar said last week it plans to spend 5 billion dirhams ($1.36 billion) on acquisitions this year to grow its portfolio of revenue-generating properties. 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