Financial M&A » By The Online Investor Staff, updated Sat., Jul. 2, 1:19 PM
Recent mergers and acquisitions in the Financial M&A category.
| This Slide: #60 of 100 |
Slide #60. Caelus Energy Alaska LLC ("Caelus") and affiliates of Apollo Global Management, LLC — Pioneer Alaska
Acquirer:
Caelus Energy Alaska LLC ("Caelus") and affiliates of Apollo Global Management, LLC (NYSE:APO)
Acquiree:
Pioneer Alaska
Details:
Caelus Energy Alaska LLC ("Caelus") and affiliates of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, "Apollo") have formed a strategic partnership to invest in oil and gas properties in Alaska. Today Caelus has closed its first transaction, the acquisition of Pioneer Natural Resources' Alaskan oil and gas business, for $300 million in cash, subject to adjustments, plus other consideration. Caelus, headquartered in Dallas, TX, has an executive management team led by Chief Executive Officer James C. Musselman and a technical team led by Chief Technical Officer Kenny Goh. Among other things, Mr. Musselman previously led Kosmos Energy, which discovered the 1 billion-plus barrel Jubilee field off the West African coast, and Triton Energy, which was acquired by Amerada Hess for $3.2 billion. Apollo funds have the opportunity to invest up to $1 billion in Caelus (in the aggregate) to develop the company's existing assets and to pursue acquisitions or other additional investments.
Apollo Global Management is an alternative investment manager. Co.'s Credit segment invests in non-control corporate and structured debt instruments including investments across the capital structure. Co.'s Private Equity segment invests in control equity and related debt instruments, convertible securities and distressed debt investments. Co.'s Real Assets segment invests in real estate equity and infrastructure equity for the acquisition and recapitalization of real estate and infrastructure assets, portfolios, platforms and operating companies; real estate and infrastructure debt; and European performing and non-performing loans, and unsecured consumer loans.
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Buy (3.21 out of 4) 29th percentile
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