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AP Alternative Assets, L.P.

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  • Publicatie datum 30 okt 2012 - 21:36
  • Statutaire naam AP Alternative Assets, L.P.
  • Titel AP Alternative Assets, L.P. Announces Completion of Strategic Review Resulting in Significant Corporate Transaction
  • Bericht AP Alternative Assets, L.P. Announces Completion of Strategic Review Resulting in Significant Corporate Transaction --AAA Announces Tender for up to $100 million at $15.00- $16.00 per Unit— --AAA Agrees to Transformative Transaction with Athene— --Strategic Plan Intended to Accelerate Delivery of Value to AAA Unitholders -- Guernsey, Channel Islands, October 30, 2012: AP Alternative Assets, L.P. (“AAA”; Euronext Amsterdam: AAA) announced today that as a result of the strategic review requested by the Board of Directors of AAA Guernsey Limited (the “Board”), in its capacity as general partner of AAA, it has agreed upon a strategic plan intended to accelerate the ultimate delivery of value to its unitholders. As part of this strategic plan, AAA has entered into a definitive agreement to contribute substantially all of its investments to Athene Holding Ltd. (“Athene”) in exchange for Class A common shares of Athene, cash and a short term promissory note (the “Transaction”). The cash and the proceeds from the repayment of the promissory note received by AAA in the Transaction, together with the existing cash on AAA’s balance sheet, will be used to (i) repay all of AAA’s outstanding borrowings and (ii) tender for AAA units. AAA plans to launch a “Dutch auction” tender in connection with the consummation of the Transaction, in which AAA will tender for up to $100 million worth of its own units at a price between $15.00 and $16.00 per unit(the “Cash Tender Offer”). Upon completion of the Transaction, which is expected to close by October 31, 2012, Athene will be AAA’s only material asset and, in the aggregate, AAA will remain the largest shareholder of Athene with a 77% ownership stake (based on capital invested to date). Following the consummation of the Transaction, Apollo Alternative Assets, L.P., a subsidiary of Apollo Global Management, LLC (“AGM” and collectively with its subsidiaries, “Apollo”) and the manager of AAA (the “Manager”), intends to pursue actively one o

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201210300000000015_AAA_Press_Release_-_Athene_Transaction-vFINAL.pdf

Datum laatste update: 20 september 2020

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