- Apollo Global Management has opened a process to sell Energos, the floating LNG infrastructure operator it backs, on either a full or partial basis at a value of more than $3 billion.
- XRG is a candidate to acquire a stake of up to 50% in Energos, a structure that would leave Apollo with continued exposure to the asset.
- Energos operates 13 floating LNG vessels deployed globally under long-term arrangements, giving the platform contracted cash flows that underpin the reported valuation.
- The process is an exit route for Apollo's asset management book rather than a new-money acquisition, keeping the transaction in the private equity monetization channel.
Quotes
“Apollo explores full or partial Energos sale at more than $3 billion value, sources say”
“XRG could buy stake of up to 50% in Energos, sources say”