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Apollo Funds to Acquire 51% Control of ABC Technologies Holdings to Strengthen Position in Automotive Plastics.

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Vincent

MANews-(C)2009-2021

Canada-based ABC Group Canada LP, the majority shareholder of Canada-based ABC Technologies Holdings Inc. (TSX: ABCT) has entered into a share purchase agreement with certain funds managed by affiliates of US-based Apollo Global Management, Inc. (NYSE: APO), to sell a majority stake in the company to the Apollo Funds to boost position in automotive plastics, the company said.

Under the terms of the Agreement, the Apollo Funds will purchase 51% of the outstanding common shares of the company from ABC LP for CDN 10.00 (USD 7.97) per common share.

Upon closing of the transaction, the parties will enter into an amended and resaid investor rights agreement, which will provide Apollo with certain director nomination rights, registration rights, pre-emptive rights and information rights.

Evercore Inc. is exclusive financial advisor to ABC Technologies and Blake, Cassels and Graydon LLP, Lowenstein Sandler LLP and Creel are legal advisors to ABC Technologies and ABC LP. Goodmans LLP and Paul Weiss Rifkind Wharton and Garrison LLP are legal...

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