6 Firms Assist As Apollo Plugs $1.75B Into Albertsons
Law360 (May 20, 2020, 1:24 PM EDT) -- Apollo Global Management has agreed to buy $1.75 billion worth of stock in privately owned U.S. grocery giant Albertsons, the companies said Wednesday, in a deal put together with the help of six law firms.
The agreement sees funds managed by Apollo Global Management Inc. picking up $1.75 billion of convertible preferred stock in Boise, Idaho-based Albertsons Cos. Inc., which represents a stake of about 17.5%, according to a statement. Albertsons aims to use some of the capital to help with expansion efforts, including for its e-commerce business.
The deal was steered by law firms Schulte Roth, Greenberg Traurig, Paul Weiss,...
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