ESSEN (dpa-AFX) - Apollo (APO) said Apollo-managed funds and affiliates have agreed to commit 3.2 billion euros of equity to a newly established joint venture with RWE. The JV will be operationally controlled by RWE and hold and fund RWE's 25.1% stake in Amprion, a Transmission System Operator serving approximately 29 million people. The JV will provide the required equity capital for its 25.1% stake to support Amprion's major investment program for grid expansion over the next decade.
Apollo Partner Jamshid Ehsani said, 'Looking ahead, we expect to further accelerate our investment activity in Europe, with a particular focus on Germany, France, Italy and the UK.'
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