Event Rentals Plans Sale To Apollo Following Ch. 11 Auction

Law360, Wilmington (April 22, 2014, 7:31 PM EDT) -- Bankrupt party planner Event Rentals Inc. announced Tuesday it would sell itself as a going concern to funds managed by investment giant Apollo Global Management LLC, which beat out the $124 million stalking horse bidder at a Chapter 11 auction.

Event Rentals lined up a group of senior lenders to serve as a stalking horse in February and tapped Apollo as the winning bidder Monday after the PE firm prevailed at a competitive auction, according to a statement from the debtors.

Apollo and the stalking horse...
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