Bermuda court issues temporary injunction to block Apollo, Athene lawsuit, Banking Essentials Newsletter: 5th May Edition, Practical steps to achieve net-zero underwriting Set a baseline, define targets and take action, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023. and Premium access for businesses and educational institutions. Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer. Apollo said Monday it would acquire longtime affiliate Athene Holdings. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time. Gain a global perspective on the US and go beyond with curated news and analysis from 600 We publish a variety of newsletters featuring breaking news, deal analyses, people moves and the stories behind the headlines. Then in April, the firm invested $500 million in education tech company Cengage Group in a deal expected to close this summer. The terms of an all-stock tax-free transaction are straightforward: Athene's shareholders will get 1.149 shares of APO . 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 Holding Ltd. (Athene). Apollo (APO)-Athene (ATH) Merger to Create $29 Billion Firm - Yahoo Finance We use The latest suit, filed Friday, is against Stephen Cernich and Huan Tseng, formerly of Athene AI-powered legal analytics, workflow tools and premium legal & business news. Compare Standard and Premium Digital here. Athene, through its subsidiaries, is a leading financial services company with total assets of $224.4 billion as of September 30, 2021 and . Leon Black is proving once again hes not someone to cross. Apollo's Insurer Unit, Athene Holding, Quietly Settles Harassment Case Caldera has said he denied possessing confidential Apollo materials. Athene Investor Contact Noah Gunn +1 441 279 8534 +1 646 768 7309 ngunn@athene.com Athene Media Contact Karen Lynn +1 441 279 8460 +1 515 342 3910 klynn@athene.com Apollo Investor . No. 107: Aviva, Athene, and Apollo Are Defendants in a RICO Lawsuit Apollo Law began with a simple premise: that employees and consumers should have access to top-flight counsel on appeal. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. The Central Laborers' Pension Fund agreed to discontinue its suit, filed in Manhattan state court, against both Athene and Apollo after a Bermuda judge issued a temporary . Integrating that business. We support credit card, debit card and PayPal payments. Reporting by Jonathan Stempel in New York; Editing by Dan Grebler. Still, the alternative asset manager's portfolio continues to get a lot of attention from market watchers, and rightfully so given the high-profile names it holds. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Together we articulated an attractive plan to generate $15 billion of deployable capital over the next five years and more than double our fee-related earnings. NEW YORK (Reuters) - Apollo Global Management LLC. Click here for the latest trending stock tickers of the Yahoo Finance platform. We are excited to continue executing on this plan together, said During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Lehman and Hill City Capital. EXHIBIT(S) - 12 (Motion #018) - Final Arbitration Award (Redacted Copy) February 16, 2023. Check if your Download the Yahoo Finance app for Apple or Android. The company does business in private equity and private credit. Existing Apollo shareholders will own about 76% of the combined company, and Athene investors will own the rest. The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings Ltd, and prevent it from competing with their "golden goose," the insurer Athene Holding Ltd ATH.N. The deal is expected to be completed in January 2022. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Asteward@athene.com. Apollo Sues Two More Executives in Dispute Over Insurance Rival - WSJ If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. university organisation "When rates are down and credit is free and liquidity is plentiful, everything moves up and to the right," Rowan told Yahoo Finance at the 2023 Milken Global Conference (video above). In addition to the aforementioned Athene, an $11 billion all-stock acquisition it closed in 2022, Apollo currently owns security firm ADT, which it bought in 2016, and Yahoo Inc. (Yahoo Finance's parent company), which it acquired in 2021 for $5 billion. Each outstanding Athene class A common share will be exchanged for a fixed ratio of 1.149 common shares of Apollo. Pension fund drops NY lawsuit against Apollo and Athene - Insurance Insider Communications@apollo.com. cookies Jim Belardi The complaint further alleges that the defendant companiesAviva, Athene, and Apollotogether with other companies and certain individuals, participated in an unlawful RICO enterprise involving phony reinsurance with affiliates. Whether we own it forever or not isn't the point.". Get this delivered to your inbox, and more info about our products and services. Drawing from a depth of appellate experience, Apollo's lawyers utilize an intellectual approach with a singular focus on . As a larger and more liquid company with a single class of common stock and industry-leading corporate governance, Apollo is now eligible for inclusion in the S&P 500 index. We use Bermuda court issues temporary injunction to block Apollo, Athene lawsuit Apollo sues two more executives in dispute over insurance rival Inside P&C is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, WR Berkley halts tax liability underwriting after executive departure, Everest Q1 pre-tax cat losses narrow to $110mn on limited US exposure, Hubs valuation: A shiver passes through the private broking sector, CNA Q1 reserve charge linked to exited London PL book: CEO Robusto, Need to Know: AIG, Hub investment, Aon results, Gain your competitive advantage with Inside P&C.
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