GS - Apollo Global funds close on acquisition of Novolex majority stake

Funds managed by Apollo Global Management (NYSE:APO) closed on the acquisition of a majority stake in Novolex Holdings, a manufacturer of sustainable packaging products for carryout, food processor, and industrial markets. The financing for the acquisition includes the largest sustainability-linked loan issued to date, the company said on Wednesday. Financial terms of the transaction weren't disclosed. Carlyle Group (CG) will keep a minority stake in Novolex. Deutsche Bank (DB), Evercore (EVR) and Barclays (BCS) acted as financial advisers to Apollo (APO) funds. Credit Suisse (CS) and Goldman Sachs (GS) acted as financial advisers to Novolex. The Apollo (APO) funds and Novolex announced the agreement in February.

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Apollo Global funds close on acquisition of Novolex majority stake