News Digest / Latest Stock Market News / Apollo Global Management and BP Forge $1 Billion Partnership to Boost Europe's Energy Future

Apollo Global Management and BP Forge $1 Billion Partnership to Boost Europe's Energy Future

Alex Vellor

04:35am, Monday, Sep 16, 2024

APO

-0.104%

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Photo: Envato.com

According to Reuters, Apollo Global Management (NYSE: APO) has signed a $1 billion deal with British energy giant BP Plc (NYSE: BP), to fund its stake in the Trans Adriatic natural gas pipeline, the companies announced on September 16, 2024.

This deal highlights Apollo's ongoing commitment to expanding its investment portfolio within the energy sector, particularly in ventures that promise stability and potential growth. The TAP, which is seen as a vital component in diversifying Europe’s energy supply, not only enhances energy security but also aligns with global efforts to transition towards greener energy alternatives.

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