Market Chatter: Apollo-Backed West Technology Looking to Sell Remaining Operating Business

MT Newswires Live05-15

Apollo Global Management-backed (APO) West Technology is in exclusive talks for the sale of its remaining operating business as discussions with debt holders continue, Bloomberg reported Friday, citing sources familiar with the matter.

Sources told Bloomberg that Gibson Dunn & Crutcher is advising West Technology's lenders, and no sale agreement has been reached yet.

West Technology has signed a transaction support agreement after failing to make an interest payment on its existing second-lien notes, according to the report.

Apollo Global Management, West Technology, and Gibson Dunn & Crutcher did not immediately respond to MT Newswires' requests for comments.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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