Apollo to Commit $1.5 Billion to Keppel Offshore Fund as Part of Rig Divestment Plan
Apollo Global Management will take a $1.5 billion stake in a new private fund set up by Singapore-based Keppel to hold six operational oil rigs. The transaction is a component of Keppel’s broader plan to divest 10 rigs held by Rigco Holding Pte for nearly S$3.7 billion and is intended to free capital for reinvestment, lower debt and return value to…