Apollo Seeks Public Exit From $7.2B El Paso Deal

Law360, New York (September 5, 2013, 2:32 PM EDT) -- Oil and gas explorer EP Energy Corp. filed for an initial public offering of up to $100 million Wednesday, just 15 months after Apollo Global Management LLC carved it out of El Paso Corp. in a $7.2 billion deal.

EP, which owns 450,000 acres across Texas, Utah, Colorado and Louisiana, carries $4.1 billion in debt left over from its $7.15 billion buyout, nearly two-thirds of which was financed by new loans and bonds.

Apollo owns 54 percent of EP Energy. The rest is split evenly between...
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