Apollo closes $9B minority equity stake in ONEOK subsidiary

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Go back to Apollo closes $9B minority equity stake in ONEOK subsidiary

ONEOK Closes $9 Billion Minority Equity Investment with Apollo

September 10, 2026 4:15 PM EDT

TULSA, Okla., Sept. 10, 2026 (GLOBE NEWSWIRE) -- ONEOK, Inc. (NYSE: OKE) today announced the closing of the previously announced $9 billion minority equity investment by funds and affiliates managed by Apollo (NYSE: APO) (Apollo). 

Under the terms of the agreement, Apollo has invested $9 billion in exchange for a nonvoting Class B minority interest in a newly formed holding company, ONEOK Holdings, L.L.C., which is structurally subordinate to the companys debt.

The minority equity investment has been reviewed with ONEOK's credit rating agencies, all of which consider the transaction credit-enhancing.

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