SPAC sees Apollo withdraw from Hostess

摘要

Private equity firm Apollo has managed to dispose of nearly all its stake in once-bankrupt Twinkie maker hostess brands in just five months - and all without incurring the market risk of an IPO. A secondary sale priced last Wednesday took Apollo's holding of Hostess down to just 2.6% and raised US$306.5m, taking its total return on investment so far to US$1.5bn, according to IFR calculations.