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 latest private equity fund and co-investment affiliate have capital commitments of $11.6 billion, according to the announcement.

Realogy was formed last year when Cendant Corp.’s real estate division broke away as an independent, publicly traded company. The company traces its roots through hotel franchisor HFS, which embarked on a buying spree of massive real estate brands from 1995-97. In 1995 HFS acquired Century 21, and quickly followed that purchase with the acquisition of ERA, PHH and Coldwell Banker.

Cendant was formed through a merger of HFS Inc. and CUC International Inc., a direct marketing and member services company, in December 1997.

Realogy’s brokers and agents represent about a quarter of the membership of the National Association of Realtors trade group.

NRT Inc., a Realogy company that oversees company-owned real estate offices, has acquired about 320 companies since its creation. NRT has about 1,000 offices and 64,000 sales associates and operates in about 35 major metropolitan markets across the country.

Apollo had provided some initial capital that helped to boost NRT Inc. to a real estate acquisitions powerhouse. NRT Inc. was formed in 1997 through a $232 million venture by a group affiliated with Apollo Management L.P. and by HFS Inc. HFS reportedly invested $157 million of the initial financing for NRT while Apollo invested $75 million.

Realogy chairman and CEO Henry R. Silverman is expected to continue to serve in his current role with the company until the Dec. 31 expiration of his employment agreement, and the company earlier announced that Silverman is expected to be succeeded by Richard Smith, who is Realogy vice chairman and president.

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