Apollo funds complete acquisitions of Emerald and Questex

Apollo (NYSE: APO) announced that Apollo-managed funds have completed the acquisitions of Emerald Holding, Inc. (NYSE: EEX) and Questex, LLC, combining the two companies into a single B2B experiential events and media platform.

With the transaction closed, Emerald's common stock has ceased trading and has been delisted from the New York Stock Exchange. Emerald stockholders are receiving $5.03 per share in cash.

Paul Miller has assumed the role of Chief Executive Officer of the combined company. Hervé Sedky, who previously led Emerald, has transitioned to a senior advisor role. The combined company also named the following executives: Vince DiMaggio as Chief Financial Officer, Issa Jouaneh as Chief Operating Officer, Kate Spellman as Chief Commercial Officer, Kurt Nelson as Chief Talent Officer, and Sara Altschul as Chief Legal Officer and Company Secretary.

The two companies are expected to be fully integrated over the coming months.

Goldman Sachs & Co. LLC served as exclusive financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Emerald. Gibson, Dunn & Crutcher LLP acted as legal counsel to Questex. RBC Capital Markets and RAN Advisory served as lead financial advisors, with PJT Partners as financial advisor to the Apollo Funds. Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to the Apollo Funds.

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