Apollo enters international markets to expand
In an effort to capture growth in overseas markets, Apollo Asset Management, the predecessor to Apollo, announced in 2020 that it would enter into a long-term strategic investment with the Abu Dhabi National Oil Company (ADNOC). The move, based on an underlying real estate portfolio valued at $5.5 billion, provides ADNOC with the ability to leverage the rental income streams from select ADNOC real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for ADNOC, simultaneously bringing returns to Apollo.
Balance Sheet|New Activity|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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