Funds Managed by Affiliates of Apollo Global Management Announce Successful Tender Offer for Smart & Final Stores, Inc.
June 18 2019 - 7:00AM
First Street Merger Sub, Inc. (the “Offeror”), an entity controlled
by funds (the “Apollo Funds”) managed by affiliates of Apollo
Global Management, LLC (NYSE: APO) (together with its consolidated
subsidiaries, “Apollo”), a leading global alternative investment
manager, today announced the successful completion of the
previously commenced cash tender offer by the Offeror to purchase
all of the outstanding shares of common stock of Smart & Final
Stores, Inc. (NYSE: SFS) (“Smart & Final”).
The tender offer expired at 5:00 p.m., New York
City time, on June 17, 2019. A total of 66,137,575 shares of common
stock of Smart & Final (excluding 3,451,587 shares tendered by
guaranteed delivery), representing approximately 87% of the
outstanding Smart & Final shares, were validly tendered into
and not validly withdrawn from the tender offer. As of such
expiration, all conditions to the tender offer have been satisfied.
As a result, all such Smart & Final shares (and any additional
shares tendered by guaranteed delivery unless actual delivery does
not occur) have been irrevocably accepted by the Offeror for
payment, which will be made on June 20, 2019.
Concurrently with payment for the tendered
shares on June 20, 2019, Smart & Final will merge with the
Offeror. As a result of the tender offer and the merger, Smart
& Final will become a privately-held, indirect wholly-owned
subsidiary of the Apollo Funds and Smart & Final’s common stock
will cease trading on the New York Stock Exchange.
About Apollo
Apollo is a leading global alternative
investment manager with offices in New York, Los Angeles, San
Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg,
Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had
assets under management of approximately $303 billion as of March
31, 2019 in private equity, credit and real assets funds invested
across a core group of nine industries where Apollo has
considerable knowledge and resources. For more information about
Apollo, please visit www.apollo.com.
Forward Looking Statements
This communication contains forward-looking
statements in addition to historical and other information. Words
such as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“forecast,” “intend,” “looking forward,” “may,” “plan,”
“potential,” “project,” “should,” “target,” “will” and “would,” or
any variations of these words, or other words with similar meanings
to or that otherwise, are used to identify forward-looking
statements although not all forward-looking statements contain
these words. All statements that address activities, events,
performance or developments that Apollo intends, expects or
believes may occur in the future are forward-looking statements.
Forward-looking statements may relate to such matters as the
completion of the merger. These forward-looking statements reflect
Apollo’s expectations as of the date of this communication. Factors
or events that could affect the proposed transactions or cause
actual events, results or performance to differ, including
materially, may emerge from time to time and are beyond the control
of Apollo, and it is not possible for Apollo to predict all of
them. Accordingly, no assurances can be given as to, among other
things, whether the proposed transactions will be completed or if
any of the other events anticipated by the forward-looking
statements will occur or what impact they will have. The reader is
cautioned not to place undue reliance on these forward-looking
statements. Any forward-looking statements made in this
communication speak only as of the date hereof. Apollo does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
applicable securities laws.
Investors please contact:
Gary M. SteinHead of Corporate CommunicationsApollo Global
Management, LLC(212) 822-0467gstein@apollo.com
Ann DaiInvestor Relations ManagerApollo Global Management,
LLC(212) 822-0678adai@apollo.com
For media inquiries please contact:
Charles ZehrenRubenstein Associates, Inc. (212)
843-8590czehren@rubenstein.com
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