Funds managed by Apollo Global Management Inc.'s affiliates bought a controlling majority stake in AGROB Immobilien AG.
Apollo European Principal Finance Fund III, the alternative investment manager's value-oriented, opportunistic fund that closed at roughly $4.6 billion in 2017, is providing equity for the transaction.
The stake equates to 75.02% of common shares and 20.12% of preference shares of AGROB, sold by UniCredit Bank AG unit HVB Gesellschaft Für Gebäude Mbh & Co. KG.
Germany-based AGROB is a real estate investment company listed in Munich. The company has a market capitalization of roughly €98 million, based on its Sept. 25 closing stock price of €25.40 per common share and €25.00 per preference share. It owns and manages a 103,000-square-meter, fully leased media and business park in the Ismaning suburb of Munich.
