Market Chatter: Apollo Weighs Sale or IPO of Membership Club Operator Invited

MT Newswires Live12-12

Apollo Global Management (APO) is considering options for Invited, including a sale or an initial public offering that could value the membership club operator at over $3 billion, including debt, Reuters reported Thursday, citing unnamed sources familiar with the matter.

JPMorgan (JPM) and Wells Fargo (WFC) are advising on the process, the report added.

Apollo took the company, formerly called ClubCorp, private in 2017 for $2.2 billion and rebranded it to Invited in 2022, according to the report.

Apollo and JPMorgan didn't immediately reply to MT Newswires' request for comments. Wells Fargo declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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