Apollo Global to acquire ClubCorp for $1.1bn.

Apollo Global, a leading global alternative investment manager, has agreed to acquire ClubCorp, the world leader in private clubs for circa $1.1bn. “We are pleased to reach this agreement with the Apollo funds, which follows a comprehensive review of strategic alternatives by ClubCorp’s Board of Directors. With the support of the Apollo funds, we are confident that ClubCorp will be able to continue building on its success by providing its members with unrivalled experiences at its clubs. This transaction represents the culmination of our review of strategic alternatives and achieves our goal of enhancing value for shareholders. The company looks forward to working closely with Apollo as it enters the next stage of its growth.” John Beckert, ClubCorop Chairman of the Board.