Apollo Global Management Exits from NCGA Holdings (Asia)

Source: Hong Kong Stock Exchange

Global alternative investment firm Apollo Global Management has sold its stake in China’s NCGA Holdings, an operator of luxury car dealerships listed on the Hong Kong Stock Exchange, to Chinese automobile dealer Baoxin Auto Group. The transaction was valued at approximately US$305.4 million, with the share price set at HKD3.97 (approximately US$0.51).