Apollo Emerges as Front Runner for Shell, Mitsubishi Stakes in LNG Canada
APO sits 22% above its 52-week low of $99.56.
Summary
Apollo is reportedly the front runner to acquire parts of Shell's and Mitsubishi's stakes in LNG Canada, a major liquefied natural gas project. The deal would expand Apollo's energy infrastructure portfolio and provide exposure to long-term LNG demand. No financial terms were disclosed, but the stakes are likely worth billions given the project's scale. This follows Apollo's recent push into private credit and asset-backed investments, including a $26 billion fund that recently capped redemptions. The acquisition would be a significant move into physical energy assets, diversifying beyond financial services.
At the time of this announcement, APO was trading at $121.83 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $70.2B. The 52-week trading range was $99.56 to $157.28. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.