Apollo Global Invests $600 Million in Joint Venture in Oman
By Connor Hart
Apollo Global Management will invest $600 million to acquire 50% interest in a joint venture entity related to the Vale Oman Distribution Center.
The New York-based asset manager on Tuesday said the transaction is expected to close before the end of the year, subject to customary regulatory approvals.
Vale Oman operates a maritime terminal in Sohar, Oman, with a large deep-water jetty and an integrated iron ore blending and distribution center, Apollo said. Vale will continue to own 100% of Vale Oman Pelletizing Company.
Apollo Partner Jamshid Ehsani said the firm will be helping finance critical supply chain infrastructure with the joint venture.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
August 06, 2024 18:20 ET (22:20 GMT)
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