Apollo Strategic Growth Capital Sets Vote Date on $5.3B AMEX Global Business Travel Deal

Apollo Strategic Growth Capital in a proxy filing today set May 25 as the date shareholders will be asked to vote on a proposed merger with American Express Global Business Travel. If approved, the deal would result in a publicly-traded company with a pro forma market capitalization of $5.3 billion.

Announced in March, the transaction is expected to provide up to approximately $1.2 billion in gross proceeds, comprised of the SPAC’s approximately $817 million of cash in trust and an upsized $335 million fully-committed PIPE. 

Zoom Video Communications; global travel technology company Sabre; APSG’s sponsor, an affiliate of alternative asset manager Apollo; funds managed by the private equity group of Ares Management Corporation (“Ares”); and investment adviser HG Vora, are among a new group of strategic and institutional investors joining the PIPE. Read more.

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