Apollo Global & AR Capital To Terminate Deal - Quick Facts

(RTTNews) - Apollo Global Management, LLC (APO) and AR Capital, LLC announced they have mutually agreed to terminate the planned transaction pursuant to which Apollo would have purchased a controlling interest in a newly formed company, AR Global Investments, LLC, that would have owned a majority of the ongoing asset management business of AR Capital.

In conjunction with the transaction's termination, AR Capital is purchasing from Apollo $25 million of preferred stock of RCS Capital Corp. (RCAP) held by Apollo for $25.6 million.

Separately, Apollo Global Management, LLC (APO) and RCS Capital Corp. (RCAP) announced they have mutually agreed to amend the previously announced sale of the RCS Capital wholesale distribution business and certain related entities, to an affiliate of Apollo. Under the amended agreement, RCS Capital will sell its wholesale distribution business, including Realty Capital Securities and Strategic Capital, to Apollo for $6 million in cash. RCS Capital's profitable transfer agent and transaction management businesses and certain other employees will not be part of the amended transaction.