PSP Investments Backs Apollo Buyout of ADT
Apollo Global Management LLC agreed to acquire alarm vendor The ADT Corporation, a Boca Raton-based company, in a deal that values ADT at around US$ 7 billion. As debt becomes harder to raise, Apollo Global raised US$ 750 million for the purchase price by selling preferred shares to an affiliate of Koch Equity Development LLC, the investment and acquisition subsidiary of Koch Industries, Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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