Apollo Global Management Inc (NYSE:APO) is close to acquiring the point-of-sale terminal business of European payments company Worldline SA (OTC:WRDLY) (OTC:WWLNF) for close to $2.3 billion, the Wall Street Journal reports.
- Apollo would acquire hardware that allows consumers to purchase their mobile phones and payment cards.
- The pandemic has accelerated the adoption of digital payments over cash among both consumers and businesses.
- Apollo's fourth-quarter FY21 revenue grew 43% year-on-year to $1.024 billion, missing the consensus of $1.150 billion.
- The earnings from its Credit segment rose 33% Y/Y, and its Private Equity business jumped 76% Y/Y.
- Management fees of $519.1 million increased from $446.8 million in the year-ago quarter.
- Total investment income of $573.8 million fell from $768.2 million.
- Credit segment distributable earnings rose 33% Y/Y to $302.5 million.
- Private Equity segment distributable earnings grew 76% Y/Y to $144.4 million.
- Real Assets segment distributable earnings increased 15% Y/Y to $38.3 million.
- Total assets under management were $497.6 billion.
- Distributable EPS of $1.05 missed the consensus of $1.10.
- Apollo declared a cash dividend of $0.40 per share, down 33% versus a year back.
- Price Action: APO shares traded lower by 5.21% at $66.04 on the last check Friday.
