Plato Data Intelligence.
Vertical Search & Ai.

Apollo said to provide up to $2bn debt financing in Kohl’s Group acquisition

Date:

Apollo Global Management  is said to be in talks to provide up to $2bn in debt financing to retail store operator Franchise Group for the potential acquisition of department store chain Kohl’s Corp.

The discussion for the deal is still at an early stage and no agreement has been reached, Reuters reported quoting sources.

Franchise Group said on Monday that it has entered into a three-week exclusive negotiation to acquire Kohl’s for $60 per share, valuing the company at around $8bn.

Sycamore Patners, Brookfield Asset Management and Simon Property Group are also said to be bidding for the department store.

This is the third high-profile deal that the global buyout major has taken part recently.

It was said yesterday that the private equity major has teamed up with Mukesh Ambani’s Reliance Industries to make a binding bid for UK chemist chain Boots, which values the company at £5bn to £6bn.

It is also said to be in talks with Elon Musk to provide further preferred equity financing to reduce the $21bn cash contribution he has committed in the Twitter acquisition deal.

It has also been involved in a few retail chain deals recently including exiting a majority stake in specialty grocer The Fresh Market at a 8x adjusted EBITDA multiple last month, agreed a $1.75bn investment in Cerberus Capital-backed grocery chain Albertsons last year, and  invested in LA-headquartered Smart & Final for a second time in 2019 in a $1.1bn deal.

Apollo raised more than $24bn in 2017 for its biggest-ever fundraise for private equity.

Copyright © 2022 AltAssets

.cp_style_100155649 .cp-popup-content{font-family:Verdana;font-weight:Normal}.cp_style_100155649 .cp-popup-content{border-style:none;border-color:rgba(244,130,124,.17);border-width:5px 5px 5px 0;border-radius:0 0 0 0}.cp_style_100155649 .cp-popup-content{background-color:#0e2d6d;width:650px;height:240px}@media (max-width:767px){.cp_style_100155649 .cp-popup-content{border-style:none;border-color:rgba(244,130,124,.17);border-width:5px 5px 5px 0;border-radius:0 0 0 0}.cp_style_100155649 .cp-popup-content{background-color:;background-blend-mode:overlay;background-repeat:no-repeat;background-position:center;background-size:cover;width:320px;height:118px}}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field{font-family:Raleway;font-weight:Inherit;font-size:12px;letter-spacing:0;text-align:left;color:#adadad;background-color:#fff;border-style:solid;border-width:0 0 0 0;border-radius:2px 2px 2px 2px;border-color:#bbb;active-border-color:#666;padding:0 10px 0 10px}.cp_style_100155649 #form_field-100155649 placeholder{color:#adadad}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field input[type=’radio’],.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field input[type=’checkbox’]{color:#adadad;background-color:#fff}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field:focus{border-color:#666}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field::-webkit-input-placeholder{color:#adadad}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field::-moz-placeholder{color:#adadad}@media (max-width:767px){.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field{font-family:Raleway;font-weight:Inherit;font-size:6px;letter-spacing:0;text-align:center;color:#adadad;background-color:#fff;border-style:solid;border-width:0 0 0 0;border-radius:2px 2px 2px 2px;border-color:#bbb;active-border-color:#666;padding:0 10px 0 10px}.cp_style_100155649 #form_field-100155649 placeholder{color:#adadad}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field input[type=’radio’],.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field input[type=’checkbox’]{color:#adadad;background-color:#fff}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field:focus{border-color:#666}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field::-webkit-input-placeholder{color:#adadad}.cp_style_100155649 .cp-popup .cpro-form .cp-form-input-field::-moz-placeholder{color:#adadad}}.cp_style_100155649 #cp_button-2-100155649 .cp-target{font-family:Raleway;font-weight:600;font-size:16px;letter-spacing:.5px;text-align:center;color:#fff;background:#4891dc;border-radius:0 0 0 0;width:231px;height:52px;padding:0 15px 0 15px}.cp_style_100155649 #cp_button-2-100155649 .cp-target:hover{color:#fff;background:#0872db}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-style:none}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-style:none}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-color:#757575}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-color:#757575}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-width:1px 1px 1px 1px}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-width:1px 1px 1px 1px}.cp_style_100155649 #cp_button-2-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_button-2-100155649{left:374px;top:145px;z-index:23}@media (max-width:767px){.cp_style_100155649 #cp_button-2-100155649 .cp-target{font-family:Raleway;font-weight:600;font-size:10px;letter-spacing:0;text-align:center;color:#fff;background:#4891dc;border-radius:0 0 0 0;width:157px;height:22px;padding:0 15px 0 15px}.cp_style_100155649 #cp_button-2-100155649 .cp-target:hover{color:#fff;background:#0872db}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-style:none}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-style:none}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-color:#757575}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-color:#757575}.cp_style_100155649 #cp_button-2-100155649 .cp-target{border-width:1px 1px 1px 1px}.cp_style_100155649 #cp_button-2-100155649 .cp-target~.cp-field-shadow{border-width:1px 1px 1px 1px}.cp_style_100155649 #cp_button-2-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_button-2-100155649{left:117px;top:74px;z-index:23}}.cp_style_100155649 #cp_heading-3-100155649 .cp-target{font-family:Raleway;font-weight:500;font-size:24px;line-height:1.2;letter-spacing:0;text-align:left;color:#fff;width:535px;height:90px}.cp_style_100155649 #cp_heading-3-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_heading-3-100155649{left:57px;top:48px;z-index:28}@media (max-width:767px){.cp_style_100155649 #cp_heading-3-100155649 .cp-target{font-family:Raleway;font-weight:500;font-size:12px;line-height:1.2;letter-spacing:0;text-align:left;color:#fff;width:166px;height:23px}.cp_style_100155649 #cp_heading-3-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_heading-3-100155649{left:117px;top:16px;z-index:28}}.cp_style_100155649 #cp_shape-5-100155649 .cp-target{fill:#fff;stroke-width:4;width:630px;height:220px}.cp_style_100155649 #cp_shape-5-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_shape-5-100155649{left:10px;top:10px;z-index:17}@media (max-width:767px){.cp_style_100155649 #cp_shape-5-100155649 .cp-target{fill:#fff;stroke-width:4;width:310px;height:108px}.cp_style_100155649 #cp_shape-5-100155649 .cp-rotate-wrap{transform:rotate(0deg)}.cp_style_100155649 #cp_shape-5-100155649{left:5px;top:5px;z-index:17}}.cp_style_100155649 #cp_email-0-100155649 .cp-target{width:303px;height:50px}.cp_style_100155649 #cp_email-0-100155649{left:57px;top:146px;z-index:30}@media (max-width:767px){.cp_style_100155649 #cp_email-0-100155649 .cp-target{width:303px;height:50px}.cp_style_100155649 #cp_email-0-100155649{left:57px;top:146px;z-index:30}}@media (max-width:767px){.cp_style_100155649 .cp-invisible-on-mobile{display:none!important}}

Get the latest PE News & Research delivered to your inbox every morning

spot_img

Latest Intelligence

spot_img