Apollo to acquire a 20% stake in Trans Adriatic Pipeline from bp for $1bn.

Apollo, an alternative asset manager, agreed to acquire a 20% stake in Trans Adriatic Pipeline from bp, an oil and gas company, for $1bn. “We are pleased to partner with bp on an agreement that can provide our investors with long-term exposure to an industry-leading infrastructure asset with a stable cash flow profile, while allowing bp to meet its objectives of retaining control and executing on its capital efficiency strategy,” Skardon Baker, Apollo Partner.