Apollo Global Management, Inc. completed the acquisition of Terminals, Solutions & Services business of Worldline SA from Worldline SA.
January 31, 2022
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Apollo Global Management, Inc. agreed to acquire Terminals, Solutions & Services business of Worldline SA from Worldline SA for approximately ?2.6 billion on May 25, 2022. The total consideration for Worldline is based on a current fair enterprise value of ?2.3 billion, as per terms of consideration, ?1.7 billion upfront value and up to ?0.9 billion in preferred shares. Net of the closing price adjustments and net of taxes, Worldline will receive in aggregate ?1.4 billion as net proceeds and will remain exposed to the future value creation of Ingenico through the preferred shares for an amount of up to ?0.9 billion (?0.6 billion fair value at signing date). Worldline successfully completed the sale and contribution of c. 85% of Ingenico to private equity funds managed by Apollo (the ?Apollo Funds?) with the sale of the remaining c. 15% to take place on January 1, 2023. The transaction was completed after all the responsible authorities approved the acquisition by Apollo Funds. Latham & Watkins LLP (Paris) acted as legal advisor to Worldline SA. UBS Investment Bank, Americas acted as financial advisor to Worldline SA. BNP Paribas SA (ENXTPA:BNP) acted as financial advisor to Worldline SA. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Apollo Global Management, Inc. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Apollo Global Management, Inc. HSBC Continental Europe, S.A acted as financial advisor to Apollo Global Management, Inc. BARCAP S.A.S. acted as financial advisor to Apollo Global Management, Inc. Société Générale Securities Services SA acted as financial advisor to Apollo Global Management, Inc. Linklaters LLP acted as legal advisor to Apollo Global Management, Inc.
Apollo Global Management, Inc. completed the acquisition of Terminals, Solutions & Services business of Worldline SA from Worldline SA on January 1, 2023. On January 1, 2023, the additional ?297 million net proceeds of the disposal was received.
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates in three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.