Apollo Funds To Acquire Majority Stake In OEG Energy Group - Quick Facts

(RTTNews) - Apollo (APO) announced that funds managed by Apollo affiliates have agreed to acquire a majority stake in OEG Energy Group, a offshore energy solutions business, from funds managed by the Power Opportunities strategy of Oaktree Capital Management, LP and other investors. The transaction implies a headline valuation of more than $1 billion for OEG, and Oaktree and others will retain a minority equity interest in OEG Energy Group.

OEG is a scaled provider of core services across the offshore energy ecosystem, delivering development and operations solutions to oil & gas and wind end markets. It owns and operates one of the worlds largest fleets of cargo carrying units, with 75,000+ units.