Rush of dividend loans for US private equity firms: Reuters

Private equity firms are borrowing to finance dividend payments from portfolio companies at the highest rate since the third quarter of 2013, according to Thomson Reuters LPC data, as a lack of new buyout deals leaves asset-hungry high-yield investors with few other lending options, Reuters reported.


Apollo to acquire OM Group for $34 per share

Apollo Global Management LLC has agreed to acquire OM Group, a diversified industrials company, for $34 per share in cash. Also, Platform Specialty Products will buy OM Group’s electronic chemicals and photomasks business from Apollo in two separate deals for a total cash consideration of $365 million. Following these transactions, Apollo will own OM Group’s magnetic technologies, battery technologies and advanced organics businesses. BNP Paribas is serving as financial advisor to OM Group while Deutsche Bank Securities Inc is doing likewise for OM Group’s board of directors. Also, Lazard and Credit Suisse are serving as financial advisors to Apollo.


CH2M to receive $300 mln from Apollo

Apollo Global Management has agreed to provide $300 million in funding to CH2M. According to terms of the deal, Apollo will invest $200 million in convertible preferred stock in CH2M at the closing, with $100 million more to come within the one-year period following the transaction’s completion. In addition to the funding, Apollo will take two seats on CH2M’s board of directors. Based in Englewood, Colorado, CH2M is a provider of critical infrastructure and natural resource solutions.


Apollo agrees to buy Protection 1 and ASG Security

Apollo Global Management LLC has agreed to acquire two security monitoring companies Protection 1 and ASG Security. No financial terms were disclosed for the transaction that is expected be completed in mid-2015. Both companies will merge and operate under the Protection 1 brand. Credit Suisse, Barclays, Deutsche Bank, Jefferies and RBC are providing the financing for the deal. Morgan Stanley and Raymond James are providing financial advice to Protection 1 while Goldman Sachs is doing likewise for ASG Security.


LendKey nabs up to $1 bln from Apollo Global-backed MidCap

New York and Ohio-based online lending platform LendKey has raised up to $1 billion in funding from MidCap Financial, which is backed by Apollo Global Management LLC. According to LendKey, this capital infusion will be used to expand its student loan refinancing programs.


Apollo, CVC to sell Brit for $1.88 bln

Fairfax Financial Holdings Ltd. Said Monday it has agreed to buy Brit PLc for $1.88 billion. Fairfax is paying 305 pence cash per Brit share, including any final dividend for the year ended Dec. 31, 2014. Apollo Global and CVC Capital Partners own about 73 percent of Brit, a specialty insurer and reinsurer.


peHUB First Read

First Read starts your morning with news of Apple in talks to launch a streaming TV service, health insurer Anthem gets hacked and Pfizer will buy Hospira for about $17 billion or $90 per share.

Prestige Cruises withdraws IPO plan-Reuters

Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an initial public offering, Reuters reported.

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