Apollo Nears Funding Deal of Up to £5 Billion for EDF's Hinkley
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Apollo Global Management Inc. is nearing an agreement with Electricite de France SA to provide as much as £5 billion ($6.7 billion) of financing for the Hinkley Point C nuclear power plant in the UK.
While the alternative asset manager previously considered providing a complex mix of equity and debt, the latest talks are mostly focused on conventional long-term loans, people with knowledge of the matter said, asking not to be identified because the deliberations are private.
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MI 61-101 Disclosure George Cavey, Vice President, Exploration and Director of the Company, subscribed under the Brokered Offering for 100,000 Units through its related entity, OreQuest Consultants Ltd, for a total consideration of $25,000 (the "Related Party Transaction"). The Related Party Subscription is considered to be a "related party transaction" of the Company for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In completing the Related Party Subscription, the Company relied upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. Specifically, the Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Subsection 5.5 (b) of MI 61-101 insofar as no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. 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