Apollo-led consortium to acquire a 49% stake in ADPLHC from ADNOC for $2.7bn.

Apollo Global Management-led consortium agreed to acquire a 49% stake in Abu Dhabi Property Leasing Holding Company, a real estate company, from Abu Dhabi National Oil Company, for $2.7bn. The transaction is expected to close before year-end, subject to customary closing conditions and regulatory approvals. “We are pleased to partner with Apollo and leverage their world-class real estate asset management expertise to achieve international best practice standards in managing and driving cost efficiencies across our real estate portfolio. This strategic partnership allows ADNOC to unlock and monetize significant value from its non-oil and gas strategic infrastructure assets and reinvest into our core business to deliver further growth and realize greater returns," Dr. Sultan Al Jaber, ADNOC Group CEO.