Apollo Explores Sale of LNG Infrastructure Firm Energos Valued at Over $3B
APO sits 25% above its 52-week low of $99.56.
Summary
Apollo is exploring strategic options for Energos Infrastructure, a floating LNG infrastructure provider it fully owns after buying New Fortress Energy's 20% stake in January 2024. The deal could value Energos at more than $3 billion, with XRG (ADNOC's international investment arm) among potential bidders offering up to a 50% stake. A full or partial sale is possible, though no deal is guaranteed. This follows Apollo's recent push into energy infrastructure, including its reported interest in LNG Canada assets in July. The sale would crystallize value from an asset Apollo built with New Fortress Energy in 2022 and could generate significant proceeds for the firm. Watch for further reports on bidders and deal structure.
At the time of this announcement, APO was trading at $124.53 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $73.5B. The 52-week trading range was $99.56 to $153.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.