Industry News

Apollo seals deal for Realogy Corp.

Real estate giant goes private

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An affiliate of private equity firm Apollo Management LP has completed its acquisition of Realogy Corp., according to an announcement today. Shareholders on March 30 voted in favor of the buyout deal. The transaction was valued at about $8.5 billion. Realogy stockholders are entitled to receive $30 in cash for each share of Realogy common stock that they hold, according to the announcement, and Realogy stock has ceased to trade on the New York Stock Exchange. Realogy is the world's largest real estate franchisor, and its franchise and company-owned real estate brands include Coldwell Banker, Century 21, ERA and Sotheby's International Realty, among others. Realogy has about 15,000 employees worldwide. The company also operates relocation and title services businesses. Apollo Management has about 80 employees, with offices in New York, Los Angeles, London, Singapore and Paris. The company has managed about $33 billion worth of capital across a several industries globally, and the firm's...