Apollo had assets under management of approximately $312 billion as of June 30, 2019 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. Rowan quick to put stamp on Apollo with $14b Athene deal An Apollo-Artemis marriage tempers goal-seeking (and adventure) with good sense. This transaction will remove a material impediment to additional index inclusion and strengthen our corporate governance profile by aligning voting rights with the economic interests of all shareholders. The price of any shares purchased pursuant to this right will be the market price for the Athene common shares based on the volume weighted average price for the 30 calendar days prior to the exercise of the right. Additional Information Regarding the Transaction and Where to Find It. When used in this press release, the words believe, anticipate, estimate, expect, intend, may, will, could, should, might, plan, seek, continue and similar expressions are intended to identify forward-looking statements. (212) 822-0467 These statements include, but are not limited to, the issuance and exchange of common equity interest of Athene and Apollo and the benefits to be derived therefrom, discussions related to Apollos expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. Apollo also slew a giant who tried to kidnap Leto. When you start investigating their myths, however, the two have much more in common than youd think. Athene and Apollo will host a conference call at 9:00 a.m. For more information visit Apollo and his sister Artemis punished the disrespectful Niobe by killing her children. The proposed transaction will be submitted to the stockholders of Athene for their consideration. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollos dependence on certain key personnel, Apollos ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollos ability to manage its growth, fund performance, the variability of Apollos revenues, net income and cash flow, Apollos use of leverage to finance its businesses and investments by Apollo funds, Athenes ability to maintain or improve financial strength ratings, the impact of Athenes reinsurers failing to meet their assumed obligations, Athenes ability to manage its business in a highly regulated industry, changes in Apollos regulatory environment and tax status, litigation risks and Apollos ability to recognize the benefits expected to be derived from the Merger. On Mar 8, 2021, Apollo ( NYSE: APO) and Athene ( ATH) announced their merger. 7.5 million Athene shares for cash at $46.20 per share, representing a 10% premium To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Transaction strengthens Athene-Apollo strategic partnership through deeper strategic and economic alignment, Single class share structure increases Athenes index eligibility and broadens appeal with institutional investors, offering a simpler, more transparent structure that is easier to understand, Transaction provides significant signal of mutual support for the continued growth of both companies, Transaction strengthens Athenes excess capital base by approximately $1 billion for future growth, Mutual equity ownership provides attractive financial investment for both companies. Leto could find no one to help her, because all were afraid of Hera, Zeus' wife. Athene will serve as the primary capital provider to Eliant, while Apollo will act as the investment manager, supporting an in-house team at Eliant that is delivering customized supply chain inventory solutions to customers across industries and geographies. Athena was evidently modest, as well. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. gstein@apollo.com, Apollo Media Contact There will be no immediate changes to the current Athene directors as a part of this proposed transaction. Arakhne, a talented weaver, boasted that she could best Athena in a contest, though Athena was the goddess of crafts. Houlihan Lokey provided a fairness opinion to Athenes board of directors. Athena was drawn to assisting heroes. Listen. Athene Holding Ltd. (Athene) (NYSE: ATH), a leading retirement services company, and Apollo Global Management, Inc. (NYSE: APO), (together with its consolidated subsidiaries, Apollo) a leading global alternative investment manager, announced that the companies have signed an agreement that will serve to strengthen the strategic relationship and reinforce the alignment of interests between the two companies. "So we are buying the other approximately 70% of Athene that we don't own through merger, yet we get 100% of the benefit of consolidation." This page was last edited on 25 December 2022, at 13:34. She was the Moon goddess. Private equity specialist Apollo Global and life and retirement reinsurance company Athene Holding Ltd. are set to merge, in a transaction that values the latter at $11 billion and the combined. Charles Zehren Athene (ATH) to Merge With Apollo (APO) in $11B All-Stock Deal Apollo and Athene Enter into Strategic Relationship with BNP Paribas to We view our new direct investment in Apollo as strategic in nature, and look forward to participating in Apollos robust growth, profitability, and yield characteristics., Leon Black, Chairman and Chief Executive Officer of Apollo, said, We are tremendously excited to announce the completion of this important strategic transaction, which we believe meaningfully enhances value for both Apollo and Athene shareholders. After the Athene deal is completed, Apollo will have a simplified structure, with a single class of voting stock and equal voting rights for each share, which should make it eligible to join the S&P 500, Apollo said. This press release does not constitute an offer of any Apollo fund. Apollo completes merger with Athene, lifting market cap to $43bn Jim Belardi, Chairman and Chief Executive Officer of Athene, said, Todays announcement reflects the strength and strategic nature of our longstanding relationship with Apollo. When Tiresias happened to see Athena bathing, she blinded him. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz- und Cookie-Einstellungen oder Datenschutz-Dashboard klicken. NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities. Our Standards: The Thomson Reuters Trust Principles. Karen Lynn The board of directors of Athene established a special committee of disinterested directors to negotiate the transaction on Athenes behalf. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. Apollo Global Management APO and Athene Holding Ltd. ATH have closed a strategic transaction, which has markedly strengthened both the parties' relationship and reinforced alignment of. Under terms of the deal, each outstanding class A common share of Athene will be exchanged for 1.149 shares of Apollo common stock, representing a premium of about 16.5% to Athenes closing share price on Friday. Athene also serves as Apollos partner insurance company and had total assets worth $202.8 billion at the end of 2020, with operations in the United States, Bermuda, and Canada. Share. Mar. Under the agreement, Apollo shareholders would end up owning 76% of the combined company, and Marc Rowan, Apollos incoming CEO, would be the leader of the combined company, according to Apollo. czehren@rubenstein.com. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. This communication is being made in respect of the proposed transaction involving Athene, Apollo and Apollos operating group subsidiaries. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The stronger capital base should help Apollo expand more quickly and it should also help the combined company broaden distribution channels, Apollo said. She was the goddess of wild animals. Athene and Apollo Announce Closing of Transaction to Strengthen Apollo Global: Athene Merger Is The Right Strategy This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. By nearly doubling our ownership in Athene to approximately 34%, we are reinforcing the durability of our relationship, and enhancing the strong alignment between the two companies. When used in this press release, the words believe, anticipate, estimate, expect, intend and similar expressions are intended to identify forward-looking statements. Lazard Frres & Co. served as financial advisor to the special committee of Athenes board and Houlihan Lokey provided a fairness opinion. Factors that could cause actual results, events and developments to differ include, without limitation: Athenes failure to recognize the benefits expected to be derived from the transaction; the accuracy of Athenes assumptions and estimates; Athenes ability to maintain or improve financial strength ratings; Athenes ability to manage its business in a highly regulated industry; regulatory changes or actions; the impact of Athenes reinsurers failing to meet their assumed obligations; the impact of interest rate fluctuations; changes in the federal income tax laws and regulations; the accuracy of Athenes interpretation of the Tax Cuts and Jobs Act, litigation (including class action litigation), enforcement investigations or regulatory scrutiny; the performance of third parties; the loss of key personnel; telecommunication, information technology and other operational systems failures; the continued availability of capital; new accounting rules or changes to existing accounting rules; general economic conditions; Athenes ability to protect its intellectual property; the ability to maintain or obtain approval of the Delaware Department of Insurance, the Iowa Insurance Division and other regulatory authorities as required for Athenes operations; and other factors discussed from time to time in Athene's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2019, which can be found at the SECs website www.sec.gov. Athene isthe Hamilton, Bermuda-based company that worked with Venerable to acquire a $19 billion block of fixed and indexed annuities from Voya Financial through a reinsurance arrangement in June 2018, and a $27 billion block of traditional fixed annuity and indexed annuity liabilities from Jackson, the U.S. arm of Prudential PLC of London, in June 2020. Athenes bye-laws have been amended and restated to eliminate its multi-class share structure with all outstanding shares of Athenes Class B Common Shares converted into shares of Class A Common Shares, and all outstanding Class M Common Shares converted into a combination of Class A Common Shares and warrants to purchase Class A Common Shares. Pearce, nnected to the limbic and reptilian brains. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Apollo also said the conflicts committee of its board has approved changes that would result in a simpler, more transparent corporate structure that is expected to be put in place by January 2022. Apollo Partner Ephraim Rudman said, Together with Athene, we have established Eliant to serve the growing market for flexible inventory and trade finance solutions, while helping our clients access high-quality, recurring asset origination. For more information about Apollo, please visit apollo.com. commentary and analysis you can trust. Institutional products, such as funding agreements and group annuity contracts related to pension risk transfers. Apollo created the oracle of Delphi, consulted by many Greeks seeking to know their fates. About Athene Athene, a subsidiary of Apollo, is a leading retirement services company with total assets of $224.4 billion as of September 30, 2021 and operations in the United States, Bermuda, and Canada. We believe these factors include but are not limited to those described under the section entitled Risk Factors in Apollos annual report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on March 1, 2019 and its quarterly report on Form 10-Q filed with the SEC on August 6, 2019, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SECs website at www.sec.gov. Eliant launches with strong customer demand, marked by $1.3 billion in signed or awarded inventory programs with blue-chip customers. The proposed transaction will add approximately. Athene and Apollo have developed a special and symbiotic relationship since Athenes inception a decade ago. +1 441 279 8460 These statements include, but are not limited to, discussions related to Apollos expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the Merger) with Athene. Eliant provides domestic and multinational companies with strategic and responsive inventory capital solutions to better optimize their supply chains and balance sheets, and buffer inventories. Just this week, Apollo announced plans to acquire the The Michaels Cos. arts and crafts store chain and The Venetian Resort and Sands Expo and Convention Center in Las Vegas. Concurrent with the proposed transaction, Apollo announces, Live conference call: Toll-free at (866) 901-0811 (domestic) or +1 (346) 354-0810 (international), Conference call replay available through November 9, 2019 at (800) 585-8367 (domestic) or +1 (404) 537-3406 (international). Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the SEC) on November 5, 2021, Apollo Asset Management Inc.s (AAM, formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athenes Annual Report on Form 10-K filed with the SEC on February 19, 2021, amendment to its Annual Report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollos, AAMs or Athenes periodic filings with the SEC, which are accessible on the SECs website at http://www.sec.gov. Scott Kleinman and James Zelter, the current co-presidents of Apollo, would lead Apollos operations, the company said. The transaction, pending approval, is expected to be completed in January 2022. Athene and its directors, its executive officers and certain other members of Athene management and Athene employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Apollo Global to buy annuities provider Athene in $11 billion deal university or Over the last few years, the firm. Apollo also executed an arrogant satyr, Marsyas, who recklessly challenged the god of music to a flute contest. +1 515 342 3910 Apollo Completes Merger with Athene and Finalizes Key Governance We work with multinational and domestic companies to bring additional certainty to their supply chains and inventories through cost effective financial solutions. Apollo: god of music. Athena: goddess of military victory. There is no need to consolidate the businesses, said Rowan, who helped set up Athene in 2009. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Athene's principal subsidiaries include Athene Annuity & Life Assurance Company, a Delaware-domiciled insurance company, Athene Annuity and Life Company, an Iowa-domiciled insurance company, Athene Annuity & Life Assurance Company of New York, a New York-domiciled insurance company and Athene Life Re Ltd., a Bermuda-domiciled reinsurer. As of September 30, 2021, Apollo had approximately $481 billion of assets under management. About BNP Paribas BNP Paribas is the European Unions leading bank and key player in international banking. Media: Apollo Joanna Rose Global Head of Corporate Communications 212 822 0491 Communications@apollo . Its existing stake in Athene did not contribute to earnings under accounting rules, despite representing 40% of Apollos assets under management and 30% of its fee-related income. May 20, 2021 Joshua Harris (Patrick T. Fallon/Bloomberg) Josh Harris, one of Apollo Global Management's three co-founders, is departing the alternative investment firm after Apollo merges with. Eliant is funded by subsidiaries and cedents of Athene Holding Ltd., and is overseen by affiliates of Apollo Global Management, Inc. (NYSE: APO). Apollo was represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP and the conflicts committee of Apollos board was represented by Simpson Thacher & Bartlett LLP. Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in Apollos annual report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on February 21, 2020, as such factors may be updated from time to time in Apollos periodic filings with the SEC, which are accessible on the SECs website at www.sec.gov. Athene is reinsuring $27 billion in Jackson liabilities. Apollo Co-Founder Josh Harris said: "This transaction serves as another great example of the strategic benefits of Apollo's relationship with Athene and the full value Apollo's insurance . Apollo will have the right to nominate five directors to Athenes 15-person board based on expected ownership at closing. Noah Gunn Individuals who embody Apollo live the "life of the mind," unconnected to their emotions or bodies. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. In addition, the conflicts committee of Apollos board of directors and the executive committee of Apollos board of directors have approved the transaction. Apollo's merger with Athene: a Final $29bn-Step in a Long-lasting Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words believes, expects, intends, anticipates, plans, seeks, estimates, projects, may, will, could, might, or continues or similar expressions. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. The goddess helped Perseus slay the snake-haired gorgon Medusa, whose glance turned mortals to stone. Other information regarding the participants in the proxy solicitation of the stockholders of Athene and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the preliminary and definitive proxy statements and other relevant materials to be filed with the SEC when they become available. Apollo Global Management, Inc.; BNP Paribas; Athene If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. ngunn@athene.com, Athene Media Contact For a full comparison of Standard and Premium Digital, click here. The merger is not predicated on synergies of personnel or cost savings, and the combined company expects to grow its workforce commensurate with growth of the business. As part of the transaction, Athene has granted Apollo, for a period of up to 180 days after the closing, the right to purchase additional Athene common shares if necessary in order for Apollo and certain related parties and employees to beneficially own, in total, 35% of the total Athene common shares outstanding, on a fully diluted basis. In addition, Athene has eliminated its multi-class share structure, which the companies expect will significantly improve Athenes index inclusion eligibility and expand Athenes investor base. Rather than dependency, I view that historically as a source of strength. This transaction is about coordination, not consolidation. Apollo's merger with Athene highlights PE's rush for permanent capital By nearly doubling our economic interest in Athene to approximately 35%, we are reinforcing the durability of our relationship, and enhancing the strong alignment between the two companies." Niobe, queen of Thebes, bragged that, having born 14 children, she deserved more honor than Leto. Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer. Athene is represented by Sidley Austin LLP as legal counsel and the special committee of Athenes board is represented by Latham & Watkins LLP. Apollo Completes Merger with Athene and Finalizes Key Governance When used in this press release, the words believe, anticipate, estimate, expect, intend, may, will, could, should, might, plan, seek, continue and similar expressions are intended to identify forward-looking statements. Apollo's mother, Leto, was one of Zeus' lovers. klynn@athene.com, Apollo Investor Contact Apollo has now completed its merger with life and retirement reinsurance company Athene Holding Ltd., creating a company with an implied market capitalisation of around $43 billion. When Leto became pregnant, she was banished from Olympus, home of the gods. With the recent overwhelming shareholder approval, Athene has eliminated its historical multi-class share structure and is now fully eligible for inclusion in a major S&P index. Eliant launches with strong customer demand, marked by $1.3 billion in signed or awarded inventory programs with blue-chip customers. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollos dependence on certain key personnel, Apollos ability to raise new private equity, credit or real asset funds, market conditions, generally, Apollos ability to manage its growth, fund performance, changes in its regulatory environment and tax status, the variability of its revenues, net income and cash flow, its use of leverage to finance its businesses and investments by its funds and litigation risks, among others. Apollo Global Management Inc.'s ( NYSE: APO) proposed merger with Athene Holding Ltd. ( ATH) was the logical next step in Apollo's permanent capital push. The completion of the proposed transaction is subject to customary closing conditions and regulatory approvals. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Neither Apollo nor Athena looked kindly upon anyone who crossed them. organisation Innovative Platform, Eliant Inventory Solutions LP, to Address Critical Market Need for Working Capital Optimization and Supply Chain Resiliency, Eliant Launches with $1.3 Billion in Signed or Awarded Inventory Programs. Forward-looking statements within this press release include, but are not limited to, discussion related to the issuance and exchange of common equity interests of Athene and Apollo and the benefits to be derived therefrom; amendments to Athenes bye-law to eliminate Athenes multi-class share structure; potential inclusion of Athenes common shares in certain specified indices; and future financial performance. For more information, please visit www.athene.com. Buyout firms have been increasingly focused on the insurance space, with KKR & Co, Blackstone Group and Sixth Street Partners all making significant acquisitions in the last year. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new private equity, credit or real asset funds, market conditions, generally, our ability to manage our growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenues, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others. offers FT membership to read for free. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Apollo and its operating group entities have entered into a lock-up agreement restricting transfers of their existing and newly acquired shares of Athene for three years from the closing date.

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