Apollo to acquire a 25% stake in bp TANAP from bp for $1bn.

Apollo, an alternative asset manager, agreed to acquire a 25% stake in bp TANAP, the holding company of bp’s 12% interest in the Trans-Anatolian natural gas pipeline, from bp, a multinational oil and gas company, for $1bn. “We see significant potential with our scaled, long-term capital to partner with bp, in alignment with their strategic objectives. We are pleased by the highly successful partnership to date,” Skardon Baker, Apollo Partner.