NPL&REO News

Apollo is negotiating the acquisition of 277 properties to Fidelidade

Apollo Global Management is currently negotiating with insurance company Fidelidade a portfolio of 277 properties that the company placed up for sale. The asset manager has been selected to preferential negotiation in the process, after the analyses of three proposals that made it to the final stage of the negotiation process. The other two competitors were Oaktree Capital and Orion Capital.

A source of Fidelidade has only confirmed to newspaper Jornal Económico that an entity has been selected for preferential negotiation, but stated that “confidentiality issues made it impossible to identify the selected entities”.

The interested parts had until 17th November to make a preliminary assessment and submit their non-binding purchase bids. After this phase of the process, three competitors were chosen for the preferential negotiation.

Original Story: Jornal Económico (Ricardo Santos Ferreira e Maria Teixeira Alves)
Translation and Edition: Prime Yield

Top