Post by Fiona J. Cooper

Apollo to #invest EUR 3.2bn in JV with RWE over Amprion GmbH stake. Asset manager Apollo Global Management, Inc. will invest EUR 3.2 billion (USD 3.7bn) in a newly created joint venture with German energy group #RWE AG (ETR:RWE) that will hold RWE’s 25.1% stake in grid operator #Amprion. The deal, announced on Monday and expected to close in the fourth quarter of 2025, secures funding for RWE’s stake in Amprion, one of Germany’s four #transmission system operators (TSO), which plans significant #investments in #grid expansion over the next decade. Amprion intends to spend EUR 36.4 billion by 2029 on expanding its grid. “This partnership with RWE will help fund long-term capex for critical grid expansion in #Germany to #power homes and industry, and it underscores our focus on delivering tailored capital solutions to leading global companies and essential #infrastructure,” said Apollo Partner Jamshid Ehsani. Amprion represents an attractive investment with reliable and stable returns from its regulated asset base, RWE noted. The German #energy group will keep operational control over the joint venture with Apollo-managed funds and entities and will continue to manage the Amprion stake. The joint venture will be allocating the #equity in line with Amprion’s grid expansion programme. Amprion's other owner, with a 74.9% stake, is M31 Beteiligungsgesellschaft mbH & Co Energie KG, a consortium of utility companies and institutional financial investors. https://lnkd.in/eJTFy_bM