Athene and apollo announce transaction to strengthen strategic relationship and eliminate athene’s multi-class share structure

Athene and apollo announce transaction to strengthen strategic relationship and eliminate athene’s multi-class share structure.athene holding ltd - apollo buying 18% incremental stake in athene at a premium to increase alignment.athene holding ltd - 7.5 million athene shares for cash at $46.20 per share.athene holding ltd - transaction expected to be modestly accretive to athene's adjusted operating earnings per share.athene holding ltd - athene authorizing $600 million of incremental share repurchase capacity.athene holding ltd - 28.0 million athene shares for a 7% equity stake in apollo.athene holding ltd - athene converting to single-class share structure.athene holding ltd - incremental share repurchase capacity, funded in part from $1 billion of excess capital created by transaction.athene holding ltd - transaction includes a share exchange between apollo and athene, purchase by apollo of athene shares.athene holding ltd - apollo's operating group entities will acquire about 35.5 million common shares of athene for approximately $1.55 billion.athene holding ltd - deal expected to increase economic ownership by apollo and certain of its related parties and employees to approximately 35%.athene holding ltd - athene will not have a lock-up on its apollo operating group equity.athene holding ltd - proposed transaction will add approximately $1.6 billion of capital for athene.
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