Apollo Globalâs Athene nabs strategic stake in Challenger Ltd
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American private equity and alternatives giant Apollo Global has swooped on a $720 million strategic stake in Australiaâs Challenger Ltd.
The firm and its insurance affiliate Athene were the buyers of a line of 80.4 million shares via Barrenjoey Capital on Wednesday morning.
Challenge, now run by CEO Richard Howe, is in the spotlight. Â
James Brickwood
The stock traded at $6 a share, which was a 10 per cent premium to the last close.
It was part of a deal for Apollo and Athene to buy 121 million Challenger shares from long-term holder Caledonia (Private) Investments, which had a 15 per cent stake in the company.
Athene pounces on takeover target Challenger
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MacCap scores berth in GeelongPort sale
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Future Fund pounces on Telstraâs towers in $2.8b deal
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A consortium spearheaded by Australiaâs Future Fund has agreed a deal to buy a stake in Telstraâs mobile telecommunications towers portfolio.
It is understood Future Fund and its co-investors will pay $2.8 billion to buy a 49 per cent stake in Telstraâs TowerCo, which was slated for divestment later this year.
Street Talk. Â
The deal pre-empts an auction, which was to be run by Macquarie Capital, and comes as Telstraâs arch rival Optus also seeks a buyer for a stake in its telecommunications towers.
Macquarie advised Telstra, Barrenjoey Capital advised Future Fund and its partners.
Scattered equities teams pause for half time pep talk
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