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Slide #44. Apollo Commercial Real Estate Finance, Inc. — Minority Participation in KBC Bank Deutschland AG
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI)
Minority Participation in KBC Bank Deutschland AG
Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE: ARI) today announced the Company, together with other investors, including affiliates of Apollo Global Management, LLC (NYSE: APO) ("Apollo"), have reached an agreement to make an investment in an entity that has agreed to acquire a minority participation in KBC Bank Deutschland AG ("KBCD"), the German subsidiary of Belgian KBC Group NV (the "KBCD Transaction"). ARI committed to invest up to approximately $50 million (EUR 38 million), representing approximately 21% of the ownership. The acquisition is subject to antitrust and regulatory approval, which is expected to take approximately nine months, although there are no assurances the acquisition will close.
Apollo Commercial Real Estate Finance is a holding company and a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. Co. is externally managed and advised by ACREFI Management, LLC, an indirect subsidiary of Apollo Global Management, LLC.
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Hold (2.00 out of 4)
(ranked lower than approx. 94% of all stocks covered)
Based on Zacks ABR data;
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